Brandywine Global Investment Management LLC Grows Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Brandywine Global Investment Management LLC increased its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 83.5% 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 104,845 shares of the business services provider’s stock after purchasing an additional 47,712 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.12% of TD SYNNEX worth $12,296,000 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. Arizona State Retirement System raised its stake in shares of TD SYNNEX by 0.4% during the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock valued at $2,607,000 after buying an additional 78 shares during the last quarter. Amundi grew its holdings in TD SYNNEX by 22.3% during 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 position in 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 acquiring an additional 116 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in TD SYNNEX by 31.9% in the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 116 shares during the period. Finally, Meixler Investment Management Ltd. boosted its position in TD SYNNEX by 2.0% in the 4th quarter. Meixler Investment Management Ltd. now owns 5,932 shares of the business services provider’s stock worth $696,000 after purchasing an additional 118 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Barclays decreased 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 research note on Friday. 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. The Goldman Sachs Group reduced their price target on TD SYNNEX from $154.00 to $137.00 and set a “buy” 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 investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Insider Transactions at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the sale, the director now owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock worth $6,353,261 in the last ninety days. Insiders own 1.00% of the company’s stock.

TD SYNNEX Stock Performance

Shares of NYSE:SNX opened at $104.13 on Tuesday. The business’s 50 day moving average price is $135.01 and its 200-day moving average price is $125.70. TD SYNNEX Co. has a 1 year low of $98.00 and a 1 year high of $145.10. 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 market capitalization of $8.79 billion, a PE ratio of 13.08, a P/E/G ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX) last released its earnings results 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). The business had revenue of $14.53 billion for the quarter, compared to analysts’ expectations of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. TD SYNNEX’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.99 EPS. As a group, equities research analysts expect that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

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.