Alliancebernstein L.P. Acquires 65,641 Shares of TD SYNNEX Co. (NYSE:SNX)

Alliancebernstein L.P. boosted its holdings in TD SYNNEX Co. (NYSE:SNX) by 6.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,102,838 shares of the business services provider’s stock after purchasing an additional 65,641 shares during the quarter. Alliancebernstein L.P. owned approximately 1.30% of TD SYNNEX worth $129,341,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in TD SYNNEX during the fourth quarter valued at $5,158,000. JPMorgan Chase & Co. grew its position in shares of TD SYNNEX by 37.0% during the third 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 in the last quarter. IFP Advisors Inc increased its holdings in shares of TD SYNNEX by 976.6% in the fourth quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider’s stock worth $119,000 after purchasing an additional 918 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of TD SYNNEX in the fourth quarter worth about $2,260,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in TD SYNNEX by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider’s stock valued at $59,512,000 after buying an additional 9,915 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNX has been the subject of a number of research reports. UBS Group lowered their target price on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Royal Bank of Canada lifted their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Barrington Research reissued an “outperform” rating and set a $156.00 target price on shares of TD SYNNEX in a research report on Friday, March 28th. Barclays lowered their price target on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. decreased their price objective on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

Insider Buying and Selling

In related news, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the sale, the chief financial officer now owns 49,843 shares in the company, valued at $6,383,891.44. This represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,172 shares of company stock worth $6,353,261 in the last 90 days. Insiders own 1.00% of the company’s stock.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $106.73 on Thursday. TD SYNNEX Co. has a fifty-two week low of $98.00 and a fifty-two week high of $145.10. The company has a market cap of $9.00 billion, a PE ratio of 13.41, a P/E/G ratio of 1.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The business has a 50-day simple moving average of $133.58 and a two-hundred day simple moving average of $125.50.

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

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Friday, April 11th. TD SYNNEX’s payout ratio is 21.97%.

TD SYNNEX Company 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.