Vanguard Group Inc. Acquires 29,659 Shares of TD SYNNEX Co. (NYSE:SNX)

Vanguard Group Inc. grew its holdings in TD SYNNEX Co. (NYSE:SNX) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 about 9.08% of TD SYNNEX worth $901,323,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Arizona State Retirement System increased its holdings in TD SYNNEX by 0.4% in the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock worth $2,607,000 after buying an additional 78 shares in the last quarter. Amundi grew its stake in shares of TD SYNNEX by 22.3% in the fourth quarter. Amundi now owns 560 shares of the business services provider’s stock worth $66,000 after acquiring an additional 102 shares during the period. Highland Capital Management LLC raised its holdings in shares of TD SYNNEX by 6.5% during the fourth quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider’s stock valued at $223,000 after purchasing an additional 116 shares during the last quarter. Global Retirement Partners LLC grew its position in TD SYNNEX by 31.9% in the 4th 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 period. Finally, Meixler Investment Management Ltd. raised its stake in TD SYNNEX by 2.0% during the 4th quarter. Meixler Investment Management Ltd. now owns 5,932 shares of the business services provider’s stock valued at $696,000 after buying an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

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

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). The company had revenue of $14.53 billion for the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business posted $2.99 EPS. On average, equities research analysts expect that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

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

Insider Activity at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm’s 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 owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. This trade 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 the SEC website. Also, Director Ann F. Vezina sold 839 shares of the business’s 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 sale, the director now directly owns 4,856 shares in the company, valued at $660,804.48. This trade represents a 14.73 % 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 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. UBS Group cut their price objective on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a report on Friday. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Cfra reduced their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada raised their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. decreased 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. 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 has an average rating of “Moderate Buy” and a consensus target price 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.