Vanguard Group Inc. Grows Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Vanguard Group Inc. increased its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 approximately 0.09% of TD SYNNEX worth $901,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in shares of TD SYNNEX during the 4th quarter valued at about $5,158,000. JPMorgan Chase & Co. grew its holdings in TD SYNNEX by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after acquiring an additional 813,634 shares during the period. IFP Advisors Inc raised its position in TD SYNNEX by 976.6% during the fourth quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 918 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in TD SYNNEX in the fourth quarter valued at approximately $2,260,000. Finally, Charles Schwab Investment Management Inc. boosted its position in TD SYNNEX by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider’s stock worth $59,512,000 after purchasing an additional 9,915 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Barrington Research reiterated an “outperform” rating and issued a $156.00 price objective on shares of TD SYNNEX in a research report on Friday. JPMorgan Chase & Co. dropped their target price on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday. Barclays reduced their price target on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Cfra dropped their price objective on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Insiders Place Their Bets

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 49,843 shares in the company, valued at $6,383,891.44. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard T. Hume sold 20,000 shares of the 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 completion of the transaction, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock worth $6,353,261 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

TD SYNNEX Trading Down 2.9 %

Shares of TD SYNNEX stock opened at $104.45 on Friday. The stock has a 50 day moving average of $135.67 and a 200 day moving average 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. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.06 and a beta of 1.51. TD SYNNEX Co. has a fifty-two week low of $98.00 and a fifty-two week high of $145.10.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The company had revenue of $14.53 billion for the quarter, compared to analysts’ expectations of $14.79 billion. During the same period in the previous year, the business posted $2.99 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, research analysts predict that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.11%.

TD SYNNEX Company 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.