TD SYNNEX Co. (NYSE:SNX) Stake Raised by Quantinno Capital Management LP

Quantinno Capital Management LP raised its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 9.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,308 shares of the business services provider’s stock after acquiring an additional 1,538 shares during the quarter. Quantinno Capital Management LP’s holdings in TD SYNNEX were worth $2,030,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SNX. JPMorgan Chase & Co. grew its holdings in shares of TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after acquiring an additional 813,634 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of TD SYNNEX during the fourth quarter worth $2,260,000. Ritholtz Wealth Management boosted its position in TD SYNNEX by 10.6% during the fourth quarter. Ritholtz Wealth Management now owns 2,519 shares of the business services provider’s stock valued at $295,000 after purchasing an additional 241 shares during the last quarter. HB Wealth Management LLC purchased a new position in TD SYNNEX in the fourth quarter valued at about $279,000. Finally, UMB Bank n.a. increased its position in TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Activity at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the completion of the transaction, the director now directly owns 65,480 shares in the company, valued at $8,897,422.40. This represents a 23.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of the sale, the chief financial officer now directly owns 49,843 shares of the company’s stock, valued at approximately $6,383,891.44. This trade represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,510 shares of company stock worth $3,241,001 in the last 90 days. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SNX shares. UBS Group lowered their price target on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Cfra reduced their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Barrington Research reiterated an “outperform” rating and issued a $156.00 target price on shares of TD SYNNEX in a research note on Friday, April 11th. JPMorgan Chase & Co. dropped their price target on shares of TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, Barclays cut 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 report on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.22.

TD SYNNEX Trading Down 2.2%

NYSE:SNX opened at $121.36 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $113.11 and its 200-day moving average is $123.34. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 1.06 and a beta of 1.33. TD SYNNEX Co. has a 12 month low of $92.23 and a 12 month high of $145.10.

TD SYNNEX (NYSE:SNX) last announced its 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 firm had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. During the same quarter last year, the business earned $2.99 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. Equities analysts anticipate that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were given a dividend of $0.44 per share. The ex-dividend date was Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.45%. TD SYNNEX’s dividend payout ratio is presently 21.97%.

About TD SYNNEX

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.