Ionic Capital Management LLC Increases Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Ionic Capital Management LLC grew its stake in TD SYNNEX Co. (NYSE:SNX) by 6.3% during the fourth quarter, HoldingsChannel reports. The firm owned 10,100 shares of the business services provider’s stock after purchasing an additional 600 shares during the quarter. Ionic Capital Management LLC’s holdings in TD SYNNEX were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in 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 valued at $901,323,000 after buying an additional 29,659 shares during the period. FMR LLC boosted its holdings in shares of TD SYNNEX by 3.2% in the fourth quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock valued at $898,738,000 after acquiring an additional 237,587 shares in the last quarter. Brave Warrior Advisors LLC increased its stake in shares of TD SYNNEX by 12.2% during the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock worth $486,380,000 after acquiring an additional 451,557 shares during the period. JPMorgan Chase & Co. lifted its position in TD SYNNEX by 10.7% in the fourth 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 period. Finally, Ninety One UK Ltd lifted its position in TD SYNNEX by 75.4% in the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after purchasing an additional 1,016,251 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SNX. Cfra cut their target price on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, March 28th. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. The Goldman Sachs Group reduced 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. Barclays lowered their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Friday, March 28th. Finally, UBS Group reduced their price objective 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. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.22.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the sale, the insider now directly owns 14,883 shares of the company’s stock, valued at approximately $1,637,130. This trade represents a 16.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the transaction, 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. In the last ninety days, insiders have sold 24,510 shares of company stock worth $3,241,001. Corporate insiders own 1.00% of the company’s stock.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $118.25 on Friday. 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 market cap of $9.92 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.06 and a beta of 1.33. The company’s 50-day moving average price is $113.79 and its 200 day moving average price is $123.11. TD SYNNEX Co. has a 52 week low of $92.23 and a 52 week high of $145.10.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data 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 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%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the business earned $2.99 earnings per share. As a group, research analysts forecast that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Friday, April 11th. TD SYNNEX’s dividend payout ratio is presently 21.97%.

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.