DME Capital Management LP Takes Position in TD SYNNEX Co. (NYSE:SNX)

DME Capital Management LP acquired a new stake in TD SYNNEX Co. (NYSE:SNX) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 53,780 shares of the business services provider’s stock, valued at approximately $6,307,000. TD SYNNEX accounts for about 0.3% of DME Capital Management LP’s holdings, making the stock its 24th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC raised its holdings in TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares during the period. Bessemer Group Inc. lifted its position in shares of TD SYNNEX by 174.7% during the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after purchasing an additional 152 shares during the last quarter. UMB Bank n.a. boosted its stake in TD SYNNEX by 48.4% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 140 shares during the period. Blue Trust Inc. increased its position in TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after buying an additional 129 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in shares of TD SYNNEX by 31.9% during the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock worth $56,000 after buying an additional 116 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the transaction, the director now directly owns 65,480 shares of the company’s stock, valued at $8,897,422.40. This trade represents a 23.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction 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 directly 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. Over the last quarter, insiders have sold 24,510 shares of company stock valued at $3,241,001. 1.00% of the stock is owned by insiders.

TD SYNNEX Stock Up 1.2 %

NYSE:SNX opened at $115.51 on Thursday. TD SYNNEX Co. has a 52-week low of $92.23 and a 52-week high of $145.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The stock has a 50-day simple moving average of $114.40 and a 200 day simple moving average of $123.11. The company has a market cap of $9.69 billion, a PE ratio of 14.51, a PEG ratio of 1.06 and a beta of 1.33.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). The business had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.99 earnings per share. On average, sell-side analysts expect that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.52%. TD SYNNEX’s dividend payout ratio (DPR) is currently 21.97%.

Analyst Ratings Changes

A number of research firms recently weighed in on SNX. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Cfra dropped their target price on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a report on Friday, March 28th. JPMorgan Chase & Co. lowered their price target on TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Barclays reduced their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Finally, Barrington Research reissued an “outperform” rating and set a $156.00 price objective on shares of TD SYNNEX in a report on Friday, April 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.22.

TD SYNNEX 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.