WBI Investments LLC Takes $420,000 Position in TD SYNNEX Co. (NYSE:SNX)

WBI Investments LLC acquired a new stake in TD SYNNEX Co. (NYSE:SNX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,584 shares of the business services provider’s stock, valued at approximately $420,000.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of TD SYNNEX by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock valued at $901,323,000 after buying an additional 29,659 shares during the period. FMR LLC lifted its holdings in shares of TD SYNNEX by 3.2% in the fourth quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock valued at $898,738,000 after buying an additional 237,587 shares during the period. Brave Warrior Advisors LLC lifted its holdings in shares of TD SYNNEX by 12.2% in the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock valued at $486,380,000 after buying an additional 451,557 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of TD SYNNEX by 10.7% in 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 during the period. Finally, Ninety One UK Ltd lifted its holdings in shares of TD SYNNEX by 75.4% in the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after buying an additional 1,016,251 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Stock Down 0.6%

NYSE:SNX opened at $124.25 on Tuesday. The firm has a market capitalization of $10.43 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.06 and a beta of 1.33. TD SYNNEX Co. has a 1-year low of $92.23 and a 1-year high of $145.10. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average price is $113.25 and its 200 day moving average price is $123.34.

TD SYNNEX (NYSE:SNX) last posted 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 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 quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.99 earnings per share. On average, sell-side analysts forecast that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Friday, April 11th. TD SYNNEX’s payout ratio is currently 21.97%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their target price on TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, April 11th. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Cfra reduced their target price on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a report on Friday, March 28th. Royal Bank of Canada reduced their target price on TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Finally, Barclays reduced their target price on 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 analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $137.22.

Insiders Place Their Bets

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,000 shares of the company’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the transaction, the insider now directly owns 14,883 shares of the company’s stock, valued at $1,637,130. This represents a 16.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,510 shares of company stock valued at $3,241,001 in the last three months. Insiders own 1.00% of the company’s stock.

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.