Zurcher Kantonalbank Zurich Cantonalbank Has $1.19 Million Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 34.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,096 shares of the business services provider’s stock after buying an additional 2,847 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TD SYNNEX were worth $1,194,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SNX. CWM LLC lifted its stake in shares of TD SYNNEX by 193.1% during the 3rd quarter. CWM LLC now owns 1,102 shares of the business services provider’s stock worth $110,000 after buying an additional 726 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of TD SYNNEX by 10.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,684 shares of the business services provider’s stock worth $567,000 after buying an additional 535 shares during the last quarter. Denali Advisors LLC lifted its stake in shares of TD SYNNEX by 14.6% during the 3rd quarter. Denali Advisors LLC now owns 6,283 shares of the business services provider’s stock worth $627,000 after buying an additional 800 shares during the last quarter. Linden Thomas Advisory Services LLC acquired a new stake in shares of TD SYNNEX during the 3rd quarter worth about $773,000. Finally, SVB Wealth LLC acquired a new stake in shares of TD SYNNEX during the 3rd quarter worth about $202,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Activity at TD SYNNEX

In related news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the sale, the chief executive officer now directly owns 229,363 shares in the company, valued at $24,213,851.91. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $117.43 on Friday. The firm has a 50 day moving average of $109.12 and a 200-day moving average of $103.28. The stock has a market capitalization of $10.46 billion, a PE ratio of 17.04, a PEG ratio of 1.10 and a beta of 1.64. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. TD SYNNEX Co. has a 12 month low of $86.30 and a 12 month high of $119.87.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.12. The company had revenue of $13.98 billion for the quarter, compared to analyst estimates of $14.37 billion. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. On average, equities research analysts predict that TD SYNNEX Co. will post 11.38 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Thursday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 23.22%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SNX. Barclays lifted their price objective on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 27th. Cfra lifted their price objective on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research note on Tuesday, March 26th. Barrington Research lifted their price objective on shares of TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. UBS Group upgraded shares of TD SYNNEX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $115.00 to $145.00 in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and a consensus price target of $121.82.

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.