LSV Asset Management Acquires 547,692 Shares of TD SYNNEX Co. (NYSE:SNX)

LSV Asset Management lifted its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 46.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,715,847 shares of the business services provider’s stock after acquiring an additional 547,692 shares during the quarter. LSV Asset Management owned approximately 2.03% of TD SYNNEX worth $201,235,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SNX. Bartlett & CO. Wealth Management LLC lifted its stake in shares of TD SYNNEX by 345.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares during the period. Bessemer Group Inc. boosted its holdings in TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. UMB Bank n.a. lifted its holdings in TD SYNNEX by 48.4% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after buying an additional 140 shares in the last quarter. Blue Trust Inc. lifted its holdings in TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after buying an additional 129 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of TD SYNNEX by 31.9% in the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 116 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on SNX. UBS Group reduced their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Barrington Research restated an “outperform” rating and issued a $156.00 target price on shares of TD SYNNEX in a research note on Friday, March 28th. JPMorgan Chase & Co. dropped their target price on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday, March 28th. StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Finally, 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. Three analysts have rated the stock with a hold rating and seven have issued 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 $140.00.

TD SYNNEX Price Performance

Shares of SNX opened at $107.23 on Thursday. TD SYNNEX Co. has a 52-week low of $92.23 and a 52-week high of $145.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The stock has a 50 day simple moving average of $127.75 and a 200 day simple moving average of $124.64. The firm has a market capitalization of $9.05 billion, a PE ratio of 13.47, a P/E/G ratio of 1.06 and a beta of 1.36.

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 analysts’ consensus estimates of $2.87 by ($0.07). The business had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $2.99 EPS. Sell-side analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a $0.44 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.64%. TD SYNNEX’s payout ratio is currently 21.97%.

Insiders Place Their Bets

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the sale, the director now directly owns 4,856 shares in the company, valued at $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the sale, the director now owns 65,480 shares in the company, valued at approximately $8,897,422.40. The trade was a 23.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,172 shares of company stock worth $4,000,861. 1.00% of the stock is owned by corporate insiders.

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.