TD SYNNEX Co. (NYSE:SNX) Holdings Raised by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of TD SYNNEX Co. (NYSE:SNX) by 0.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,315,358 shares of the business services provider’s stock after acquiring an additional 478 shares during the period. Geode Capital Management LLC owned about 1.55% of TD SYNNEX worth $154,313,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SNX. Vanguard Group Inc. lifted its position in shares of TD SYNNEX by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock worth $901,323,000 after buying an additional 29,659 shares during the last quarter. JPMorgan Chase & Co. lifted its position in TD SYNNEX by 10.7% in the 4th quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider’s stock valued at $391,188,000 after purchasing an additional 323,282 shares during the last quarter. Ninety One UK Ltd grew its holdings in TD SYNNEX by 75.4% in the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after buying an additional 1,016,251 shares in the last quarter. State Street Corp raised its stake in shares of TD SYNNEX by 0.7% during the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock valued at $262,943,000 after purchasing an additional 15,995 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of TD SYNNEX by 6.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,102,838 shares of the business services provider’s stock valued at $129,341,000 after acquiring an additional 65,641 shares during the period. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Stock Up 2.7 %

Shares of TD SYNNEX stock opened at $98.38 on Tuesday. TD SYNNEX Co. has a 1 year low of $92.23 and a 1 year high of $145.10. The company has a market cap of $8.30 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.06 and a beta of 1.36. 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 stock has a 50-day moving average price of $130.92 and a 200 day moving average price of $125.18.

TD SYNNEX (NYSE:SNX) last posted 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 company 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 business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.99 earnings per share. As a group, analysts expect that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.79%. TD SYNNEX’s payout ratio is 21.97%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SNX. 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 report on Friday, March 28th. Barclays reduced their target price 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. Cfra dropped their price target on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, March 28th. JPMorgan Chase & Co. reduced their price objective on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, March 28th. Finally, Royal Bank of Canada boosted their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. 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.com, TD SYNNEX currently has an average rating of “Moderate Buy” and an average price target of $140.00.

Insider Buying and Selling at TD SYNNEX

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 value of $193,400.80. Following the completion of the sale, the chief financial officer now owns 49,843 shares of the company’s stock, valued at approximately $6,383,891.44. The trade was a 2.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the transaction, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $23,681,372. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,172 shares of company stock worth $4,000,861 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

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.