TD SYNNEX Co. (NYSE:SNX) Shares Purchased by Lyrical Asset Management LP

Lyrical Asset Management LP increased its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 3.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,288,363 shares of the business services provider’s stock after acquiring an additional 44,309 shares during the period. TD SYNNEX makes up about 2.3% of Lyrical Asset Management LP’s portfolio, making the stock its 22nd largest holding. Lyrical Asset Management LP’s holdings in TD SYNNEX were worth $151,099,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SNX. Norges Bank acquired a new position in TD SYNNEX during the fourth quarter worth $121,199,000. Ninety One UK Ltd boosted its holdings in TD SYNNEX by 75.4% in the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after buying an additional 1,016,251 shares during the last quarter. JPMorgan Chase & Co. increased its stake in 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 worth $361,707,000 after buying an additional 813,634 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of TD SYNNEX during the fourth quarter valued at approximately $47,094,000. Finally, Thrivent Financial for Lutherans lifted its position in shares of TD SYNNEX by 92.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 715,603 shares of the business services provider’s stock valued at $83,926,000 after acquiring an additional 343,856 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNX has been the subject of several recent research reports. 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. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Barclays lowered 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. The Goldman Sachs Group cut their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a report on Friday, March 28th. Finally, Royal Bank of Canada boosted their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Insiders Place Their Bets

In related news, CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction dated 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 $6,383,891.44. This trade represents a 2.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,172 shares of company stock worth $4,000,861 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $95.75 on Friday. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The firm has a 50 day simple moving average of $131.78 and a 200-day simple moving average of $125.26. TD SYNNEX Co. has a 1-year low of $94.46 and a 1-year high of $145.10.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) 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 business had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same period in the previous year, the business posted $2.99 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, analysts expect that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Friday, April 11th. TD SYNNEX’s payout ratio is 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.