Bridgewater Associates LP Acquires 106,245 Shares of TD SYNNEX Co. (NYSE:SNX)

Bridgewater Associates LP boosted its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 137.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 183,751 shares of the business services provider’s stock after purchasing an additional 106,245 shares during the period. Bridgewater Associates LP owned about 0.22% of TD SYNNEX worth $21,550,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Bartlett & CO. Wealth Management LLC lifted its position in shares of TD SYNNEX by 345.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares during the period. Bessemer Group Inc. lifted its holdings in shares of TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 152 shares during the period. UMB Bank n.a. boosted its stake in shares of TD SYNNEX by 48.4% in 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 in the last quarter. Blue Trust Inc. grew its holdings in shares of TD SYNNEX by 37.7% in the 4th 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 last quarter. Finally, Global Retirement Partners LLC increased its position in shares of TD SYNNEX by 31.9% during 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 in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays decreased 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, March 28th. Barrington Research reaffirmed an “outperform” rating and set a $156.00 price target on shares of TD SYNNEX in a report on Friday, March 28th. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. The Goldman Sachs Group decreased 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, March 28th. Finally, Royal Bank of Canada cut their price target on TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, TD SYNNEX presently has an average rating of “Moderate Buy” and a consensus target price of $137.22.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $103.27 on Wednesday. TD SYNNEX Co. has a 1 year low of $92.23 and a 1 year high of $145.10. The company’s 50-day moving average is $124.65 and its two-hundred day moving average is $124.20. 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 company has a market cap of $8.67 billion, a PE ratio of 12.97, a PEG ratio of 1.06 and a beta of 1.36.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data 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 during 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 period in the previous year, the business posted $2.99 earnings per share. Equities analysts anticipate that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Friday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is currently 21.97%.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the sale, the chief executive officer now owns 165,604 shares of the company’s stock, 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 is accessible through the SEC website. Also, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the transaction, the director now directly owns 4,856 shares in the company, valued at approximately $660,804.48. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,172 shares of company stock worth $4,000,861. 1.00% of the stock is currently owned by company insiders.

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.