Algert Global LLC Acquires Shares of 15,585 TD SYNNEX Co. (NYSE:SNX)

Algert Global LLC bought a new stake in TD SYNNEX Co. (NYSE:SNX) in the 4th quarter, Holdings Channel.com reports. The firm bought 15,585 shares of the business services provider’s stock, valued at approximately $1,828,000.

A number of other large investors have also recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC boosted its stake in shares of TD SYNNEX by 345.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares during the period. Bessemer Group Inc. raised its stake in TD SYNNEX by 174.7% during the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 152 shares during the last quarter. UMB Bank n.a. grew its stake in shares of TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 140 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 129 shares during the period. Finally, Global Retirement Partners LLC raised its stake in shares of TD SYNNEX by 31.9% during the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock worth $56,000 after purchasing an additional 116 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Stock Down 0.1 %

SNX opened at $118.25 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The company 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. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10. The business’s fifty day moving average is $113.79 and its two-hundred day moving average is $123.08.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). The business had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. TD SYNNEX’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.99 earnings per share. Analysts anticipate that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

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

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $135.88, for a total value of $2,717,600.00. Following the completion of the transaction, the director now directly owns 65,480 shares in the company, valued at approximately $8,897,422.40. The trade was a 23.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Miriam Anne Murphy sold 3,000 shares of TD SYNNEX stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the sale, the insider now directly owns 14,883 shares of the company’s stock, valued at approximately $1,637,130. This represents a 16.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,510 shares of company stock valued at $3,241,001 over the last three months. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Cfra dropped 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 note on Friday, March 28th. Barrington Research reissued an “outperform” rating and set a $156.00 price target on shares of TD SYNNEX in a report on Friday, April 11th. UBS Group lowered their price objective on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Barclays reduced their price target on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. dropped their price objective on TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating on the stock in a 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’s stock. According to MarketBeat.com, TD SYNNEX has a consensus rating of “Moderate Buy” and an average target price of $137.22.

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.