EntryPoint Capital LLC Buys Shares of 2,295 TD SYNNEX Co. (NYSE:SNX)

EntryPoint Capital LLC purchased a new position in shares of TD SYNNEX Co. (NYSE:SNX) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,295 shares of the business services provider’s stock, valued at approximately $269,000.

Other large investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in shares of TD SYNNEX by 117.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,259 shares of the business services provider’s stock valued at $151,000 after purchasing an additional 679 shares during the period. Cerity Partners LLC lifted its holdings in shares of TD SYNNEX by 51.3% in the third quarter. Cerity Partners LLC now owns 16,792 shares of the business services provider’s stock worth $2,016,000 after buying an additional 5,691 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of TD SYNNEX by 1.1% in the third quarter. The Manufacturers Life Insurance Company now owns 68,289 shares of the business services provider’s stock worth $8,200,000 after buying an additional 746 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of TD SYNNEX in the third quarter valued at approximately $2,237,000. Finally, Bridgewater Associates LP grew its stake in TD SYNNEX by 493.7% during the third quarter. Bridgewater Associates LP now owns 77,506 shares of the business services provider’s stock valued at $9,307,000 after acquiring an additional 64,452 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insiders Place Their Bets

In related news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction 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 transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the sale, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $23,681,372. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,172 shares of company stock valued at $6,353,261 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on SNX shares. JPMorgan Chase & Co. cut their price target on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a report on Friday. UBS Group reduced their target price on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Friday. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday. The Goldman Sachs Group cut their price objective on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a report on Friday. Finally, Royal Bank of Canada raised their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

TD SYNNEX Trading Down 2.9 %

Shares of SNX opened at $104.45 on Friday. TD SYNNEX Co. has a fifty-two week low of $98.00 and a fifty-two week high of $145.10. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.06 and a beta of 1.51. The firm has a 50 day moving average price of $135.67 and a 200-day moving average price of $125.53. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24.

TD SYNNEX (NYSE:SNX) last posted 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 return on equity of 11.91% and a net margin of 1.18%. The business had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. During the same period in the prior year, the firm earned $2.99 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.68%. TD SYNNEX’s payout ratio is 22.11%.

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.