TD SYNNEX Co. (NYSE:SNX) Shares Purchased by Parkwood LLC

Parkwood LLC raised its position in TD SYNNEX Co. (NYSE:SNX) by 24.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,912 shares of the business services provider’s stock after acquiring an additional 23,256 shares during the quarter. TD SYNNEX accounts for about 1.5% of Parkwood LLC’s investment portfolio, making the stock its 14th largest holding. Parkwood LLC owned approximately 0.14% of TD SYNNEX worth $13,946,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SNX. JPMorgan Chase & Co. boosted its holdings in TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after purchasing an additional 813,634 shares during the last quarter. Benson Investment Management Company Inc. raised its position in shares of TD SYNNEX by 0.6% in the 4th quarter. Benson Investment Management Company Inc. now owns 33,360 shares of the business services provider’s stock valued at $3,912,000 after purchasing an additional 207 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of TD SYNNEX during the 4th quarter valued at approximately $2,260,000. Ritholtz Wealth Management grew its position in shares of TD SYNNEX by 10.6% during the fourth quarter. Ritholtz Wealth Management now owns 2,519 shares of the business services provider’s stock worth $295,000 after buying an additional 241 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new stake in shares of TD SYNNEX during the fourth quarter worth approximately $279,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SNX shares. Cfra decreased their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a report on Friday, March 28th. The Goldman Sachs Group reduced their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. JPMorgan Chase & Co. lowered their price objective on TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Barclays cut their price objective on 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, Royal Bank of Canada decreased their target price on TD SYNNEX from $165.00 to $145.00 and set an “outperform” 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $137.22.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $125.00 on Wednesday. The company has a market cap of $10.49 billion, a P/E ratio of 15.70, a PEG ratio of 1.06 and a beta of 1.33. The business has a 50 day moving average of $113.51 and a two-hundred day moving average of $123.16. TD SYNNEX Co. has a 52 week low of $92.23 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.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) 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 company had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same quarter in the prior year, the firm earned $2.99 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, analysts anticipate that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Friday, April 11th. TD SYNNEX’s payout ratio is 21.97%.

Insider Buying and Selling at TD SYNNEX

In related news, insider Miriam Anne Murphy sold 3,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $1,637,130. This trade represents a 16.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX 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 directly owns 65,480 shares in the company, valued at $8,897,422.40. The trade was a 23.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,510 shares of company stock valued at $3,241,001 in the last ninety days. Company insiders own 1.00% of the company’s stock.

About TD SYNNEX

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.