CX Institutional Boosts Stake in TD SYNNEX Co. (NYSE:SNX)

CX Institutional increased its position in TD SYNNEX Co. (NYSE:SNX) by 1.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 11,977 shares of the business services provider’s stock after purchasing an additional 118 shares during the period. CX Institutional’s holdings in TD SYNNEX were worth $1,245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SNX. Norges Bank purchased a new stake in shares of TD SYNNEX in the 4th quarter valued at about $121,199,000. Nuveen Asset Management LLC lifted its holdings in shares of TD SYNNEX by 343.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider’s stock valued at $141,913,000 after purchasing an additional 937,040 shares during the last quarter. LSV Asset Management raised its stake in TD SYNNEX by 46.9% during the 4th quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider’s stock valued at $201,235,000 after acquiring an additional 547,692 shares during the last quarter. Brave Warrior Advisors LLC raised its stake in TD SYNNEX by 12.2% during the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock valued at $486,380,000 after acquiring an additional 451,557 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in TD SYNNEX during the 4th quarter valued at approximately $47,094,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 transaction of $193,400.80. Following the completion of the transaction, the chief financial officer now directly owns 49,843 shares in the company, valued at approximately $6,383,891.44. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Miriam Anne Murphy sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the transaction, the insider now owns 14,883 shares of the company’s stock, valued at approximately $1,637,130. This represents a 16.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on SNX shares. 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. JPMorgan Chase & Co. reduced their price objective on TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Barrington Research reaffirmed an “outperform” rating and set a $156.00 price objective on shares of TD SYNNEX in a research note on Friday, April 11th. UBS Group reduced their price objective 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. Finally, Wall Street Zen downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $138.00.

TD SYNNEX Stock Down 0.4%

Shares of NYSE SNX opened at $125.96 on Friday. TD SYNNEX Co. has a 1 year low of $92.23 and a 1 year high of $145.10. The firm has a market cap of $10.57 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 1.06 and a beta of 1.29. 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’s 50-day simple moving average is $115.53 and its 200-day simple moving average is $123.81.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). The firm had revenue of $14.53 billion during 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 firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $2.99 earnings per share. As a group, equities analysts anticipate that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders 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 1.40%. TD SYNNEX’s payout ratio is currently 21.97%.

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.