EntryPoint Capital LLC Acquires New Shares in TD SYNNEX Co. (NYSE:SNX)

EntryPoint Capital LLC bought a new position in TD SYNNEX Co. (NYSE:SNX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,295 shares of the business services provider’s stock, valued at approximately $269,000.

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

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now owns 111,080 shares in the company, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction of $975,689.00. Following the transaction, the chief executive officer now owns 165,604 shares of the company’s stock, valued at $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 49,172 shares of company stock valued at $6,353,261 over the last ninety days. 1.00% of the stock is owned by company insiders.

TD SYNNEX Stock Down 2.9 %

TD SYNNEX stock opened at $104.45 on Friday. The company has a market capitalization of $8.81 billion, a PE ratio of 13.12, a PEG ratio of 1.06 and a beta of 1.51. TD SYNNEX Co. has a 12-month low of $98.00 and a 12-month high of $145.10. The firm’s fifty day moving average is $135.67 and its 200 day moving average is $125.53. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data 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 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 analyst estimates of $14.79 billion. During the same quarter in the prior year, the company posted $2.99 EPS. TD SYNNEX’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.68%. TD SYNNEX’s dividend payout ratio is 22.11%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SNX. Barrington Research reaffirmed an “outperform” rating and set a $156.00 target price on shares of TD SYNNEX in a research report on Friday. Royal Bank of Canada raised their price objective on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. The Goldman Sachs Group reduced their target price on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a report on Friday. UBS Group lowered their price target on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a report on Friday. Finally, Barclays reduced their price objective on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Friday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

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.