JPMorgan Chase & Co. Purchases 323,282 Shares of TD SYNNEX Co. (NYSE:SNX)

JPMorgan Chase & Co. raised its position in TD SYNNEX Co. (NYSE:SNX) by 10.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,335,501 shares of the business services provider’s stock after acquiring an additional 323,282 shares during the quarter. JPMorgan Chase & Co.’s holdings in TD SYNNEX were worth $391,188,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SNX. Vanguard Group Inc. boosted its stake in shares of TD SYNNEX by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock worth $901,323,000 after acquiring an additional 29,659 shares during the last quarter. Ninety One UK Ltd grew its holdings in TD SYNNEX by 75.4% during 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. State Street Corp grew its holdings in TD SYNNEX by 0.7% during the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock valued at $262,943,000 after purchasing an additional 15,995 shares during the period. River Road Asset Management LLC increased its position in TD SYNNEX by 0.5% in the fourth quarter. River Road Asset Management LLC now owns 869,367 shares of the business services provider’s stock worth $101,959,000 after buying an additional 4,220 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in shares of TD SYNNEX by 39.0% in the third quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider’s stock worth $99,123,000 after buying an additional 231,715 shares during the period. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

NYSE SNX opened at $104.45 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. TD SYNNEX Co. has a 1-year low of $98.00 and a 1-year high of $145.10. The business has a 50 day simple moving average of $135.67 and a two-hundred day simple moving average of $125.64. The stock has a market capitalization of $8.81 billion, a PE ratio of 13.12, a P/E/G ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX) last posted its 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). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The business had revenue of $14.53 billion during the quarter, compared to analysts’ expectations of $14.79 billion. During the same period last year, the business posted $2.99 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, research analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Friday, April 11th. TD SYNNEX’s payout ratio is 22.11%.

Insider Buying and Selling

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 49,843 shares in the company, valued at approximately $6,383,891.44. This represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,172 shares of company stock worth $6,353,261. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SNX. Barclays dropped their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday. UBS Group cut their price target on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Friday. JPMorgan Chase & Co. lowered their price objective on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday. The Goldman Sachs Group cut their target price on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a research report on Friday. Finally, Barrington Research reissued an “outperform” rating and issued a $156.00 price target on shares of TD SYNNEX in a report on Friday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

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.