TD SYNNEX Co. (NYSE:SNX) Stake Lessened by Kennedy Capital Management LLC

Kennedy Capital Management LLC lessened its stake in TD SYNNEX Co. (NYSE:SNX) by 13.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 144,021 shares of the business services provider’s stock after selling 21,718 shares during the period. Kennedy Capital Management LLC owned about 0.17% of TD SYNNEX worth $16,891,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Quantinno Capital Management LP lifted its position in TD SYNNEX by 5.6% during the 3rd quarter. Quantinno Capital Management LP now owns 15,770 shares of the business services provider’s stock worth $1,894,000 after buying an additional 831 shares in the last quarter. State Street Corp increased its position in shares of TD SYNNEX by 0.7% during the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock worth $262,943,000 after buying an additional 15,995 shares during the period. Kovitz Investment Group Partners LLC grew its holdings in TD SYNNEX by 26.3% in the third quarter. Kovitz Investment Group Partners LLC now owns 2,620 shares of the business services provider’s stock worth $304,000 after purchasing an additional 546 shares during the period. XTX Topco Ltd bought a new position in shares of TD SYNNEX in the third quarter valued at $219,000. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of TD SYNNEX by 109.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 11,003 shares of the business services provider’s stock valued at $1,321,000 after purchasing an additional 5,761 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

Shares of SNX opened at $107.23 on Thursday. The stock has a 50-day simple moving average of $127.75 and a 200-day simple moving average of $124.64. 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 stock has a market capitalization of $9.05 billion, a PE ratio of 13.47, a PEG ratio of 1.06 and a beta of 1.36. TD SYNNEX Co. has a 1 year low of $92.23 and a 1 year high of $145.10.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share 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 business had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same period in the prior year, the company earned $2.99 EPS. The company’s revenue was up 4.0% on a year-over-year basis. On average, analysts predict that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.64%. TD SYNNEX’s dividend payout ratio is presently 21.97%.

Wall Street Analysts Forecast Growth

SNX has been the subject of several recent analyst reports. Cfra reduced their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, March 28th. UBS Group dropped their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Friday, March 28th. JPMorgan Chase & Co. decreased 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. The Goldman Sachs Group reduced their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Finally, StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the transaction, the director now owns 4,856 shares of the company’s stock, valued at $660,804.48. This represents a 14.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the sale, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. This represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,172 shares of company stock worth $4,000,861. 1.00% of the stock is currently owned by corporate 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.