Forum Financial Management LP Raises Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Forum Financial Management LP boosted its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 10.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,514 shares of the business services provider’s stock after purchasing an additional 229 shares during the quarter. Forum Financial Management LP’s holdings in TD SYNNEX were worth $295,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in TD SYNNEX by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock valued at $901,323,000 after acquiring an additional 29,659 shares during the last quarter. FMR LLC grew its stake in TD SYNNEX by 3.2% in the fourth quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock worth $898,738,000 after purchasing an additional 237,587 shares in the last quarter. JPMorgan Chase & Co. raised its stake in TD SYNNEX by 10.7% during the fourth quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider’s stock valued at $391,188,000 after buying an additional 323,282 shares in the last quarter. Ninety One UK Ltd grew its position in shares of TD SYNNEX by 75.4% in the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after acquiring an additional 1,016,251 shares in the last quarter. Finally, LSV Asset Management increased its holdings in shares of TD SYNNEX by 46.9% in the 4th quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider’s stock valued at $201,235,000 after acquiring an additional 547,692 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the transaction, the chief financial officer now directly owns 49,843 shares in the company, valued at approximately $6,383,891.44. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was 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 directly owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,333 shares of company stock worth $3,886,690 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

TD SYNNEX Stock Down 2.3 %

SNX opened at $103.26 on Tuesday. The stock’s fifty day moving average is $121.61 and its 200-day moving average is $123.90. The company has a market capitalization of $8.67 billion, a PE ratio of 12.97, a P/E/G ratio of 1.06 and a beta of 1.36. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24.

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 the consensus estimate of $2.87 by ($0.07). The business had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.99 earnings per share. On average, equities analysts predict 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 issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.70%. TD SYNNEX’s payout ratio is presently 21.97%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNX. Cfra cut their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, March 28th. JPMorgan Chase & Co. reduced their price objective on TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. UBS Group dropped their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Finally, Royal Bank of Canada decreased their target price on shares of TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.22.

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.