Norges Bank Makes New $121.20 Million Investment in TD SYNNEX Co. (NYSE:SNX)

Norges Bank acquired a new position in TD SYNNEX Co. (NYSE:SNX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,033,420 shares of the business services provider's stock, valued at approximately $121,199,000. Norges Bank owned approximately 1.22% of TD SYNNEX as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SNX. Loomis Sayles & Co. L P grew its position in TD SYNNEX by 1.5% in the fourth quarter. Loomis Sayles & Co. L P now owns 320,448 shares of the business services provider's stock worth $37,582,000 after acquiring an additional 4,649 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of TD SYNNEX by 10.7% in the 4th quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider's stock worth $391,188,000 after purchasing an additional 323,282 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of TD SYNNEX by 131.7% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 34,152 shares of the business services provider's stock valued at $4,005,000 after purchasing an additional 19,412 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in TD SYNNEX during the 4th quarter valued at $269,000. Finally, Vanguard Group Inc. lifted its position in TD SYNNEX by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider's stock worth $901,323,000 after buying an additional 29,659 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SNX shares. Barrington Research reissued an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a research note on Friday, March 28th. Royal Bank of Canada raised their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. The Goldman Sachs Group dropped their target price on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Barclays reduced their price target on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Finally, Cfra reduced their target price on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $140.00.

Insider Buying and Selling at TD SYNNEX

In other news, Director Ann F. Vezina sold 839 shares of the firm's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the transaction, the director now directly owns 4,856 shares in the company, valued at $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the sale, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. This represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,172 shares of company stock worth $4,000,861. 1.00% of the stock is owned by corporate insiders.

TD SYNNEX Stock Down 3.8 %

Shares of SNX traded down $3.73 during mid-day trading on Friday, hitting $95.75. The company's stock had a trading volume of 2,372,884 shares, compared to its average volume of 734,038. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The company's 50-day moving average is $131.78 and its 200-day moving average is $125.26. TD SYNNEX Co. has a 52-week low of $94.46 and a 52-week high of $145.10. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). The company had revenue of $14.53 billion for the quarter, compared to analysts' expectations of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.99 EPS. On average, equities research analysts forecast that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.84%. The ex-dividend date is Friday, April 11th. TD SYNNEX's dividend payout ratio is presently 21.97%.

TD SYNNEX Company Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.