Lyrical Asset Management LP Acquires 44,309 Shares of TD SYNNEX Co. (NYSE:SNX)

Lyrical Asset Management LP lifted its holdings in TD SYNNEX Co. (NYSE:SNX) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,288,363 shares of the business services provider’s stock after buying an additional 44,309 shares during the period. TD SYNNEX comprises 2.3% of Lyrical Asset Management LP’s holdings, making the stock its 22nd largest holding. Lyrical Asset Management LP owned approximately 1.52% of TD SYNNEX worth $151,099,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Bartlett & CO. Wealth Management LLC increased its stake in TD SYNNEX by 345.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares during the last quarter. UMB Bank n.a. increased its position in shares of TD SYNNEX by 48.4% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 140 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in TD SYNNEX during the 3rd quarter valued at $55,000. Blue Trust Inc. lifted its position in TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after buying an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in TD SYNNEX by 31.9% during the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock worth $56,000 after buying an additional 116 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TD SYNNEX

In other news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the sale, the director now directly owns 4,856 shares in the company, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the sale, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. The trade was a 2.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,172 shares of company stock valued at $4,000,861 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

TD SYNNEX Price Performance

SNX opened at $95.75 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $131.78 and its 200-day simple moving average is $125.26. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.06 and a beta of 1.51. TD SYNNEX Co. has a 12-month low of $94.46 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company had revenue of $14.53 billion for the quarter, compared to the consensus estimate of $14.79 billion. During the same period last year, the business posted $2.99 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.84%. TD SYNNEX’s payout ratio is 21.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SNX shares. Barclays lowered their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. JPMorgan Chase & Co. decreased their price objective on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, March 28th. Barrington Research reaffirmed an “outperform” rating and set a $156.00 target price on shares of TD SYNNEX in a research note on Friday, March 28th. UBS Group decreased 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. Finally, Cfra cut their price objective on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Three 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, TD SYNNEX has an average rating of “Moderate Buy” and an average target price of $140.00.

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.