Fmr LLC Raises Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Fmr LLC boosted its stake in TD SYNNEX Co. (NYSE:SNX) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,663,179 shares of the business services provider’s stock after purchasing an additional 237,587 shares during the quarter. Fmr LLC owned about 9.05% of TD SYNNEX worth $898,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the company’s 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 sale, the chief executive officer now owns 165,604 shares in the company, valued at approximately $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction that occurred 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 transaction, the director now owns 4,856 shares of the company’s stock, valued at $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 29,172 shares of company stock valued at $4,000,861 over the last ninety days. Company insiders own 1.00% of the company’s stock.

TD SYNNEX Stock Up 2.7 %

Shares of NYSE:SNX opened at $98.38 on Tuesday. TD SYNNEX Co. has a 1 year low of $92.23 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 stock’s 50-day moving average is $130.92 and its 200 day moving average is $125.18. The company has a market cap of $8.30 billion, a PE ratio of 12.36, a P/E/G ratio of 1.06 and a beta of 1.36.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, March 27th. The business services provider reported $2.80 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 the consensus estimate of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. TD SYNNEX’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.99 EPS. Sell-side analysts anticipate that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given 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 1.79%. TD SYNNEX’s dividend payout ratio is presently 21.97%.

Analyst Upgrades and Downgrades

Several research analysts have commented on SNX shares. Barrington Research reissued an “outperform” rating and set a $156.00 price target on shares of TD SYNNEX in a research note on Friday, March 28th. UBS Group decreased their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. JPMorgan Chase & Co. lowered their price target 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. 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 note on Friday, February 21st. Finally, StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, TD SYNNEX has a consensus rating of “Moderate Buy” and an average 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.