Bessemer Group Inc. Raises Position in TD SYNNEX Co. (NYSE:SNX)

Bessemer Group Inc. increased its holdings in TD SYNNEX Co. (NYSE:SNX) by 174.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 239 shares of the business services provider’s stock after purchasing an additional 152 shares during the period. Bessemer Group Inc.’s holdings in TD SYNNEX were worth $28,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in TD SYNNEX in the 3rd quarter worth about $219,000. M&T Bank Corp lifted its holdings in shares of TD SYNNEX by 13.5% during the 3rd quarter. M&T Bank Corp now owns 2,188 shares of the business services provider’s stock worth $263,000 after acquiring an additional 261 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of TD SYNNEX in the third quarter worth approximately $232,000. Tidal Investments LLC grew its holdings in TD SYNNEX by 9.3% in 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 during the period. Finally, Brass Tax Wealth Management Inc. purchased a new stake in TD SYNNEX in the third quarter valued at approximately $203,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barrington Research reaffirmed an “outperform” rating and set a $156.00 price target on shares of TD SYNNEX in a research note on Friday, April 11th. The Goldman Sachs Group reduced their target price on 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 lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Royal Bank of Canada cut their price objective on TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. dropped their target price on shares of TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.22.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the transaction, the director now directly owns 65,480 shares in the company, valued at $8,897,422.40. This represents a 23.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 49,843 shares of the company’s stock, valued at $6,383,891.44. The trade was a 2.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,333 shares of company stock worth $3,886,690 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

TD SYNNEX Stock Up 1.4 %

NYSE SNX opened at $105.67 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The business has a 50 day moving average price of $122.38 and a two-hundred day moving average price of $123.89. The stock has a market cap of $8.87 billion, a PE ratio of 13.27, a P/E/G 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 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The firm had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same period in the previous year, the business posted $2.99 earnings per share. TD SYNNEX’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is 21.97%.

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.