O Shaughnessy Asset Management LLC increased its stake in TD SYNNEX Co. (NYSE:SNX – Get Rating) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,249 shares of the business services provider’s stock after buying an additional 524 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in TD SYNNEX were worth $3,002,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of SNX. Amundi Pioneer Asset Management Inc. lifted its position in shares of TD SYNNEX by 6.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 48,980 shares of the business services provider’s stock worth $4,672,000 after purchasing an additional 2,881 shares during the last quarter. Morgan Stanley lifted its position in shares of TD SYNNEX by 125.3% during the second quarter. Morgan Stanley now owns 145,561 shares of the business services provider’s stock worth $17,723,000 after purchasing an additional 80,957 shares during the last quarter. Deutsche Bank AG lifted its position in shares of TD SYNNEX by 2.2% during the third quarter. Deutsche Bank AG now owns 17,790 shares of the business services provider’s stock worth $1,851,000 after purchasing an additional 387 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of TD SYNNEX by 6.0% during the third quarter. CIBC Asset Management Inc now owns 2,118 shares of the business services provider’s stock worth $220,000 after purchasing an additional 120 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of TD SYNNEX by 23.0% during the third quarter. Teacher Retirement System of Texas now owns 7,063 shares of the business services provider’s stock worth $735,000 after purchasing an additional 1,321 shares during the last quarter. Institutional investors own 85.54% of the company’s stock.
In other news, insider Dennis Polk sold 1,100 shares of TD SYNNEX stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $98.39, for a total transaction of $108,229.00. Following the completion of the sale, the insider now owns 151,153 shares in the company, valued at approximately $14,871,943.67. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $105.44, for a total transaction of $1,054,400.00. Following the sale, the chief executive officer now owns 147,747 shares of the company’s stock, valued at approximately $15,578,443.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,011 shares of company stock valued at $1,761,136. Insiders own 1.60% of the company’s stock.
TD SYNNEX (NYSE:SNX – Get Rating) last announced its earnings results on Thursday, March 24th. The business services provider reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.32. TD SYNNEX had a net margin of 1.04% and a return on equity of 14.87%. The company had revenue of $15.47 billion during the quarter, compared to the consensus estimate of $15.31 billion. During the same period in the previous year, the firm posted $1.82 earnings per share. The company’s revenue was up 213.2% on a year-over-year basis. As a group, sell-side analysts expect that TD SYNNEX Co. will post 11 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Monday, April 18th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, April 14th. TD SYNNEX’s dividend payout ratio is presently 19.35%.
Several analysts have recently weighed in on the company. StockNews.com assumed coverage on TD SYNNEX in a research report on Thursday, March 31st. They set a “hold” rating for the company. Stifel Nicolaus upgraded TD SYNNEX from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Thursday, April 14th. Raymond James lifted their price objective on TD SYNNEX from $170.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, March 25th. Finally, Zacks Investment Research downgraded TD SYNNEX from a “buy” rating to a “hold” rating and set a $113.00 price objective for the company. in a report on Tuesday, March 15th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, TD SYNNEX presently has a consensus rating of “Buy” and an average target price of $144.00.
TD SYNNEX Company Profile (Get Rating)
TD SYNNEX Corporation provides business process services in the United States and internationally. The company distributes PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, consumer electronics, information technology (IT) systems including data center server and storage solutions, system components, software, networking, communications and security equipment, consumer electronics, and complementary products.
- Get a free copy of the StockNews.com research report on TD SYNNEX (SNX)
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