Shelton Capital Management bought a new stake in TD SYNNEX Co. (NYSE:SNX – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,202 shares of the business services provider’s stock, valued at approximately $209,000.
Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in TD SYNNEX by 2.0% during the third quarter. Vanguard Group Inc. now owns 4,215,710 shares of the business services provider’s stock worth $342,274,000 after buying an additional 84,548 shares in the last quarter. BlackRock Inc. increased its stake in TD SYNNEX by 6.0% in the 3rd quarter. BlackRock Inc. now owns 3,732,192 shares of the business services provider’s stock valued at $303,018,000 after purchasing an additional 211,608 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in TD SYNNEX by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,730,742 shares of the business services provider’s stock worth $163,921,000 after purchasing an additional 125,192 shares during the last quarter. River Road Asset Management LLC boosted its position in TD SYNNEX by 5.3% during the fourth quarter. River Road Asset Management LLC now owns 1,288,317 shares of the business services provider’s stock worth $122,017,000 after purchasing an additional 64,912 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in TD SYNNEX by 0.6% in the fourth quarter. Nordea Investment Management AB now owns 1,270,281 shares of the business services provider’s stock valued at $120,130,000 after purchasing an additional 7,009 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
SNX has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on shares of TD SYNNEX from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 29th. Cfra reiterated a “hold” rating and issued a $100.00 price target (down from $120.00) on shares of TD SYNNEX in a research report on Tuesday, March 28th. TheStreet upgraded TD SYNNEX from a “c+” rating to a “b-” rating in a research report on Friday, April 14th. Raymond James lowered their target price on TD SYNNEX from $140.00 to $130.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 29th. Finally, Bank of America cut their price target on TD SYNNEX from $135.00 to $120.00 in a report on Thursday, March 30th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $113.91.
TD SYNNEX Stock Performance
TD SYNNEX (NYSE:SNX – Get Rating) last announced its quarterly earnings data on Tuesday, March 28th. The business services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.08. TD SYNNEX had a net margin of 1.11% and a return on equity of 13.80%. The business had revenue of $15.13 billion for the quarter, compared to analyst estimates of $15.74 billion. On average, research analysts predict that TD SYNNEX Co. will post 10.96 earnings per share for the current year.
TD SYNNEX Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Friday, April 14th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, April 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.51%. TD SYNNEX’s payout ratio is 19.55%.
Insider Activity at TD SYNNEX
In other TD SYNNEX news, insider Simon Leung sold 10,174 shares of the company’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $88.47, for a total transaction of $900,093.78. Following the completion of the sale, the insider now directly owns 32,931 shares in the company, valued at $2,913,405.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Dennis Polk sold 8,000 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $96.90, for a total transaction of $775,200.00. Following the completion of the sale, the insider now directly owns 132,402 shares of the company’s stock, valued at approximately $12,829,753.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Simon Leung sold 10,174 shares of the firm’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $88.47, for a total value of $900,093.78. Following the completion of the transaction, the insider now directly owns 32,931 shares in the company, valued at $2,913,405.57. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,998 shares of company stock worth $4,039,998. 1.70% of the stock is owned by 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.
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