Treasurer of the State of North Carolina decreased its holdings in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 12.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,137 shares of the business services provider's stock after selling 4,847 shares during the period. Treasurer of the State of North Carolina's holdings in TD SYNNEX were worth $3,886,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of SNX. Norges Bank acquired a new stake in shares of TD SYNNEX in the fourth quarter valued at approximately $121,199,000. Ninety One UK Ltd boosted its position in TD SYNNEX by 75.4% during the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider's stock worth $277,316,000 after acquiring an additional 1,016,251 shares during the period. JPMorgan Chase & Co. grew its stake in shares of TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock worth $361,707,000 after purchasing an additional 813,634 shares in the last quarter. LSV Asset Management lifted its holdings in TD SYNNEX by 46.9% in the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock worth $201,235,000 after purchasing an additional 547,692 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in TD SYNNEX during the 4th quarter valued at about $47,094,000. Institutional investors own 84.00% of the company's stock.
TD SYNNEX Stock Up 1.4 %
SNX traded up $1.47 during trading on Friday, reaching $105.67. 1,050,677 shares of the stock traded hands, compared to its average volume of 750,724. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.06 and a beta of 1.36. The stock's 50-day simple moving average is $122.38 and its two-hundred day simple moving average is $123.89. TD SYNNEX Co. has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.
TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). The business had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.99 EPS. As a group, equities research analysts expect that TD SYNNEX Co. will post 11.88 EPS for the current year.
TD SYNNEX Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Friday, April 11th. TD SYNNEX's dividend payout ratio (DPR) is currently 21.97%.
Insider Activity at TD SYNNEX
In other news, CFO Marshall Witt sold 1,510 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the transaction, the chief financial officer now directly owns 49,843 shares of the company's stock, valued at $6,383,891.44. The trade was a 2.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the transaction, the chief executive officer now owns 165,604 shares of the company's stock, valued at approximately $23,681,372. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,333 shares of company stock worth $3,886,690 in the last ninety days. 1.00% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. StockNews.com cut TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. The Goldman Sachs Group cut their target price on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Barrington Research reissued an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a research note on Friday, April 11th. JPMorgan Chase & Co. decreased their target price on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, UBS Group reduced their price target on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, TD SYNNEX has a consensus rating of "Moderate Buy" and an average target price of $137.22.
Read Our Latest Stock Report on TD SYNNEX
About TD SYNNEX
(
Free Report)
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.
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