Aster Capital Management DIFC Ltd Buys Shares of 7,966 TD SYNNEX Co. (NYSE:SNX)

Aster Capital Management DIFC Ltd purchased a new position in shares of TD SYNNEX Co. (NYSE:SNX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,966 shares of the business services provider’s stock, valued at approximately $934,000.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of TD SYNNEX in the 4th quarter valued at about $121,199,000. Ninety One UK Ltd boosted its position in shares of 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 purchasing an additional 1,016,251 shares in the last quarter. JPMorgan Chase & Co. increased its position in TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after buying an additional 813,634 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in TD SYNNEX in the fourth quarter valued at about $47,094,000. Finally, Thrivent Financial for Lutherans boosted its holdings in TD SYNNEX by 92.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 715,603 shares of the business services provider’s stock worth $83,926,000 after acquiring an additional 343,856 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Down 3.8 %

SNX stock opened at $95.75 on Friday. TD SYNNEX Co. has a 52 week low of $94.46 and a 52 week high of $145.10. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The firm has a 50-day simple moving average of $131.78 and a 200-day simple moving average of $125.26. The stock has a market capitalization of $8.08 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data 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 firm had revenue of $14.53 billion for the quarter, compared to analysts’ expectations of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. TD SYNNEX’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.99 earnings per share. Equities analysts forecast that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is 21.97%.

Analyst Ratings Changes

SNX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, March 28th. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Barrington Research reaffirmed an “outperform” rating and set a $156.00 price target on shares of TD SYNNEX in a research report on Friday, March 28th. Cfra cut their price objective on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Finally, The Goldman Sachs Group decreased their target price on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a report on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

Insider Transactions at TD SYNNEX

In other news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction 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 transaction, the chief financial officer now owns 49,843 shares in the company, valued at $6,383,891.44. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the sale, the director now directly owns 4,856 shares in the company, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,172 shares of company stock valued at $4,000,861. Corporate 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.