Kennedy Capital Management LLC Boosts Stock Position in TD SYNNEX Co. (NYSE:SNX)

Kennedy Capital Management LLC lifted its holdings in TD SYNNEX Co. (NYSE:SNXFree Report) by 40.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 63,912 shares of the business services provider’s stock after purchasing an additional 18,414 shares during the quarter. Kennedy Capital Management LLC owned 0.07% of TD SYNNEX worth $6,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNX. Captrust Financial Advisors boosted its stake in TD SYNNEX by 4.3% during the first quarter. Captrust Financial Advisors now owns 3,202 shares of the business services provider’s stock worth $330,000 after buying an additional 133 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of TD SYNNEX by 0.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 18,687 shares of the business services provider’s stock worth $1,702,000 after purchasing an additional 140 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of TD SYNNEX by 0.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 35,805 shares of the business services provider’s stock worth $3,391,000 after purchasing an additional 141 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of TD SYNNEX by 95.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 410 shares of the business services provider’s stock worth $40,000 after purchasing an additional 200 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of TD SYNNEX by 28.9% during the third quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock worth $95,000 after purchasing an additional 214 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Price Performance

Shares of SNX stock opened at $104.79 on Friday. TD SYNNEX Co. has a fifty-two week low of $86.30 and a fifty-two week high of $108.92. The firm has a market capitalization of $9.34 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.01 and a beta of 1.63. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.77 and a current ratio of 1.20. The stock’s 50-day simple moving average is $103.31 and its 200-day simple moving average is $100.42.

TD SYNNEX (NYSE:SNXGet Free Report) last issued its quarterly earnings results on Tuesday, January 9th. The business services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.57. TD SYNNEX had a return on equity of 12.34% and a net margin of 1.09%. The business had revenue of $14.41 billion for the quarter, compared to analyst estimates of $14.54 billion. During the same quarter in the previous year, the firm earned $3.30 earnings per share. The company’s revenue was down 11.3% on a year-over-year basis. As a group, equities analysts forecast that TD SYNNEX Co. will post 11.17 earnings per share for the current fiscal year.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 19th were given a $0.40 dividend. The ex-dividend date was Thursday, January 18th. This represents a $1.60 dividend on an annualized basis and a yield of 1.53%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.35. TD SYNNEX’s dividend payout ratio is currently 23.85%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SNX shares. UBS Group started coverage on TD SYNNEX in a research report on Wednesday, November 22nd. They set a “neutral” rating and a $105.00 target price for the company. JPMorgan Chase & Co. downgraded TD SYNNEX from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $112.00 to $113.00 in a report on Monday, January 8th. Royal Bank of Canada lifted their price objective on TD SYNNEX from $97.00 to $110.00 and gave the company a “sector perform” rating in a report on Wednesday, January 10th. Finally, StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $111.00.

View Our Latest Analysis on SNX

Insider Activity at TD SYNNEX

In related news, insider Michael Urban sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $103.67, for a total value of $518,350.00. Following the sale, the insider now owns 36,131 shares in the company, valued at $3,745,700.77. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.57, for a total value of $1,055,700.00. Following the completion of the transaction, the chief executive officer now directly owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Urban sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $103.67, for a total value of $518,350.00. Following the completion of the transaction, the insider now directly owns 36,131 shares of the company’s stock, valued at $3,745,700.77. The disclosure for this sale can be found here. Insiders have sold a total of 2,289,905 shares of company stock worth $232,556,362 over the last quarter. Insiders own 1.90% of the company’s stock.

TD SYNNEX Profile

(Free Report)

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.

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Institutional Ownership by Quarter for TD SYNNEX (NYSE:SNX)

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