GeoWealth Management LLC Purchases 1,929 Shares of TD SYNNEX Co. (NYSE:SNX)

GeoWealth Management LLC boosted its position in TD SYNNEX Co. (NYSE:SNX) by 2,143.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,019 shares of the business services provider’s stock after purchasing an additional 1,929 shares during the quarter. GeoWealth Management LLC’s holdings in TD SYNNEX were worth $237,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in TD SYNNEX during the 3rd quarter valued at about $232,000. Tidal Investments LLC increased its stake in shares of TD SYNNEX by 9.3% during the third quarter. Tidal Investments LLC now owns 17,121 shares of the business services provider’s stock valued at $2,056,000 after purchasing an additional 1,450 shares in the last quarter. Brass Tax Wealth Management Inc. purchased a new position in shares of TD SYNNEX during the third quarter valued at approximately $203,000. Lord Abbett & CO. LLC boosted its position in shares of TD SYNNEX by 39.0% in the 3rd quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider’s stock worth $99,123,000 after purchasing an additional 231,715 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after buying an additional 813,634 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

Shares of SNX opened at $105.82 on Wednesday. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10. The business has a fifty day moving average of $120.89 and a 200 day moving average of $123.77. 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 firm has a market capitalization of $8.88 billion, a P/E ratio of 13.29, a PEG ratio of 1.06 and a beta of 1.36.

TD SYNNEX (NYSE:SNX) last released its quarterly 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 analysts’ expectations of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. TD SYNNEX’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.99 EPS. As a group, sell-side analysts anticipate that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s dividend payout ratio is presently 21.97%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group lowered their price objective on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Friday, March 28th. JPMorgan Chase & Co. dropped their price target on shares of 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 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. Royal Bank of Canada cut their price target on shares of TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Finally, Barclays decreased their price objective 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. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $137.22.

Insider Activity

In related news, CFO Marshall Witt sold 1,510 shares of the business’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 completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 65,480 shares in the company, valued at approximately $8,897,422.40. The trade was a 23.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,333 shares of company stock valued at $3,886,690 in the last 90 days. Company insiders own 1.00% of the company’s stock.

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.