TD SYNNEX Co. (NYSE:SNX) Shares Purchased by Ionic Capital Management LLC

Ionic Capital Management LLC increased its position in shares of TD SYNNEX Co. (NYSE:SNX) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,100 shares of the business services provider’s stock after purchasing an additional 600 shares during the period. Ionic Capital Management LLC’s holdings in TD SYNNEX were worth $1,185,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SNX. Bartlett & CO. Wealth Management LLC raised its position in shares of TD SYNNEX by 345.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the period. Bessemer Group Inc. grew its holdings in shares of 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 holdings in shares of 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. raised its holdings in TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after buying an additional 129 shares during the period. Finally, Global Retirement Partners LLC lifted its position in TD SYNNEX by 31.9% in the fourth 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 during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Cfra decreased their price objective 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. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. JPMorgan Chase & Co. decreased their target price on TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group dropped their target price on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Finally, UBS Group reduced their price target on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.22.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $118.25 on Friday. The company has a market cap of $9.92 billion, a P/E ratio of 14.86, a PEG ratio of 1.06 and a beta of 1.33. The firm has a fifty day moving average price of $113.79 and a 200 day moving average price of $123.11. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 12 month low of $92.23 and a 12 month high of $145.10.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share (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 return on equity of 11.91% and a net margin of 1.18%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.99 earnings per share. Sell-side analysts predict that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.49%. TD SYNNEX’s dividend payout ratio is currently 21.97%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the sale, the insider now owns 14,883 shares in the company, valued at approximately $1,637,130. The trade was a 16.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the firm’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 transaction of $193,400.80. Following the transaction, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. This trade represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,510 shares of company stock valued at $3,241,001 over the last ninety days. Insiders own 1.00% of the company’s stock.

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.