Vanguard Group Inc. increased its holdings in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,685,224 shares of the business services provider's stock after purchasing an additional 29,659 shares during the period. Vanguard Group Inc. owned 9.08% of TD SYNNEX worth $901,323,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Ninety One UK Ltd raised its position in shares of TD SYNNEX by 75.4% in 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 in the last quarter. JPMorgan Chase & Co. grew its position in shares of TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock worth $361,707,000 after buying an additional 813,634 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of TD SYNNEX during the 4th quarter worth approximately $47,094,000. Thrivent Financial for Lutherans lifted its position in TD SYNNEX by 92.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 715,603 shares of the business services provider's stock valued at $83,926,000 after acquiring an additional 343,856 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in TD SYNNEX by 325.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 347,451 shares of the business services provider's stock valued at $40,488,000 after acquiring an additional 265,737 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at TD SYNNEX
In related news, CFO Marshall Witt sold 1,510 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the transaction, the chief financial officer now owns 49,843 shares of the company's stock, valued at approximately $6,383,891.44. This represents a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the sale, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,172 shares of company stock worth $6,353,261. 1.00% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on SNX shares. Barrington Research reaffirmed an "outperform" rating and set a $156.00 target price on shares of TD SYNNEX in a research report on Friday, March 28th. JPMorgan Chase & Co. decreased their price objective on shares of TD SYNNEX from $150.00 to $125.00 and set a "neutral" rating for the company in a research report on Friday, March 28th. UBS Group dropped their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. StockNews.com lowered shares of TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Finally, Cfra reduced their price objective on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $140.00.
Check Out Our Latest Stock Report on SNX
TD SYNNEX Stock Performance
Shares of NYSE SNX traded up $1.58 during trading on Wednesday, reaching $105.43. 231,901 shares of the company traded hands, compared to its average volume of 758,651. The stock has a market cap of $8.90 billion, a P/E ratio of 13.22, a PEG ratio of 1.06 and a beta of 1.51. The firm's fifty day simple moving average is $134.27 and its 200 day simple moving average is $125.64. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 12-month low of $98.00 and a 12-month high of $145.10.
TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company had revenue of $14.53 billion for the quarter, compared to analysts' expectations of $14.79 billion. During the same quarter in the prior year, the business posted $2.99 earnings per share. The firm's revenue was up 4.0% compared to the same quarter last year. As a group, research analysts anticipate that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.
TD SYNNEX Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued 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 of this dividend is Friday, April 11th. TD SYNNEX's dividend payout ratio (DPR) is presently 21.97%.
TD SYNNEX Company Profile
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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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