Tidal Investments LLC Increases Stock Position in TD SYNNEX Co. (NYSE:SNX)

Tidal Investments LLC increased its position in shares of TD SYNNEX Co. (NYSE:SNX) by 1,224.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 226,719 shares of the business services provider’s stock after buying an additional 209,598 shares during the quarter. Tidal Investments LLC’s holdings in TD SYNNEX were worth $26,590,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SNX. Arizona State Retirement System boosted its stake in shares of TD SYNNEX by 0.4% in the fourth quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock valued at $2,607,000 after purchasing an additional 78 shares during the period. Quadrant Capital Group LLC raised its holdings in TD SYNNEX by 9.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider’s stock worth $125,000 after purchasing an additional 90 shares in the last quarter. Ellevest Inc. raised its holdings in TD SYNNEX by 3.9% during the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider’s stock worth $280,000 after purchasing an additional 90 shares in the last quarter. Utah Retirement Systems raised its holdings in TD SYNNEX by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider’s stock worth $481,000 after purchasing an additional 100 shares in the last quarter. Finally, Amundi increased its holdings in shares of TD SYNNEX by 22.3% in the 4th quarter. Amundi now owns 560 shares of the business services provider’s stock valued at $66,000 after acquiring an additional 102 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TD SYNNEX

In other news, insider Miriam Anne Murphy sold 3,000 shares of TD SYNNEX stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the transaction, the insider now owns 14,883 shares of the company’s stock, valued at $1,637,130. The trade was a 16.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of the transaction, the chief financial officer now directly owns 49,843 shares of the company’s stock, valued at $6,383,891.44. The trade was a 2.94% 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 90 days. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SNX shares. Royal Bank of Canada lowered their price objective on shares of TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. lowered their price objective on shares of TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Cfra lowered their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Barclays lowered their price objective on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Finally, The Goldman Sachs Group lowered their price objective 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $137.22.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $125.14 on Friday. The firm has a market capitalization of $10.50 billion, a P/E ratio of 15.72, a PEG ratio of 1.06 and a beta of 1.33. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10. The company’s fifty day moving average is $113.32 and its two-hundred day moving average is $123.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24.

TD SYNNEX (NYSE:SNX) last issued its earnings results 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 company 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 revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.99 earnings per share. Analysts forecast that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) 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.