LSV Asset Management Boosts Stake in TD SYNNEX Co. (NYSE:SNX)

LSV Asset Management boosted its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 46.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,715,847 shares of the business services provider’s stock after acquiring an additional 547,692 shares during the quarter. LSV Asset Management’s holdings in TD SYNNEX were worth $201,235,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC lifted its holdings in TD SYNNEX by 345.1% during the fourth 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. grew its position in TD SYNNEX by 174.7% during the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after purchasing an additional 152 shares during the period. UMB Bank n.a. grew its position in TD SYNNEX by 48.4% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after purchasing an additional 140 shares during the period. Blue Trust Inc. grew its position in TD SYNNEX by 37.7% during 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 period. Finally, Global Retirement Partners LLC lifted its stake in TD SYNNEX by 31.9% in the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock valued at $56,000 after buying an additional 116 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Trading Up 10.2 %

SNX opened at $107.23 on Thursday. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10. The company has a market cap of $9.05 billion, a P/E ratio of 13.47, a PEG ratio of 1.06 and a beta of 1.36. 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’s 50-day simple moving average is $127.75 and its 200-day simple moving average is $124.64.

TD SYNNEX (NYSE:SNX) last released its quarterly 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 firm 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%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.99 EPS. As a group, equities research analysts expect that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.64%. TD SYNNEX’s payout ratio is 21.97%.

Insider Activity

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the completion of the transaction, the director now owns 65,480 shares of the company’s stock, valued at approximately $8,897,422.40. This trade represents a 23.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the sale, the director now directly owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,172 shares of company stock valued at $4,000,861 in the last three months. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SNX shares. StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. The Goldman Sachs Group dropped their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a report on Friday, March 28th. Barclays dropped 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 report on Friday, March 28th. Cfra dropped their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a report on Friday, March 28th. Finally, Barrington Research reiterated an “outperform” rating and issued a $156.00 target price on shares of TD SYNNEX in a report on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, TD SYNNEX presently has a consensus rating of “Moderate Buy” and a consensus 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.