Woodline Partners LP Increases Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Woodline Partners LP boosted its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 68.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 182,405 shares of the business services provider’s stock after buying an additional 74,192 shares during the period. Woodline Partners LP owned approximately 0.22% of TD SYNNEX worth $21,392,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC raised its stake in shares of TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the period. Bessemer Group Inc. lifted its stake in TD SYNNEX by 174.7% in the fourth 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 last quarter. UMB Bank n.a. lifted its stake in TD SYNNEX by 48.4% in the fourth 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 last quarter. Blue Trust Inc. boosted its position in shares of TD SYNNEX by 37.7% during the fourth 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 grew its stake in shares of TD SYNNEX by 31.9% during 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 currently owned by institutional investors.

TD SYNNEX Stock Down 0.1%

Shares of TD SYNNEX stock opened at $124.26 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.06 and a beta of 1.33. The firm’s 50-day moving average is $113.23 and its two-hundred day moving average is $123.35. 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 results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.07). The business had revenue of $14.53 billion during 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%. TD SYNNEX’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.99 EPS. As a group, research analysts expect 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. Stockholders of record on Friday, April 11th were issued a $0.44 dividend. The ex-dividend date was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.42%. TD SYNNEX’s dividend payout ratio is presently 21.97%.

Insider Transactions at TD SYNNEX

In other news, insider Miriam Anne Murphy sold 3,000 shares of the company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the insider now directly owns 14,883 shares of the company’s stock, valued at approximately $1,637,130. This represents a 16.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $2,717,600.00. Following the completion of the sale, the director now directly owns 65,480 shares of the company’s stock, valued at $8,897,422.40. The trade was a 23.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,510 shares of company stock valued at $3,241,001. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SNX shares. Cfra dropped their price objective on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a report on Friday, March 28th. The Goldman Sachs Group cut their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a report on Friday, March 28th. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. UBS Group lowered their price objective 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. Finally, Royal Bank of Canada dropped their target price on shares of TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.22.

About TD SYNNEX

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.