TD SYNNEX Co. (NYSE:SNX) Holdings Increased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp increased its stake in TD SYNNEX Co. (NYSE:SNX) by 131.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,152 shares of the business services provider’s stock after acquiring an additional 19,412 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in TD SYNNEX were worth $4,005,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bartlett & CO. Wealth Management LLC boosted its stake in TD SYNNEX by 345.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares in the last quarter. UMB Bank n.a. boosted its stake in TD SYNNEX by 48.4% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after buying an additional 140 shares in the last quarter. Point72 DIFC Ltd acquired a new position in TD SYNNEX during the third quarter worth about $55,000. Blue Trust Inc. lifted its holdings in TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of TD SYNNEX by 31.9% during the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 116 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SNX. UBS Group cut their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Friday. Cfra decreased their target price on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a 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 on the stock in a research report on Friday. Royal Bank of Canada increased their price target on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Insider Activity

In related news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the sale, the chief financial officer now owns 49,843 shares of the company’s stock, valued at approximately $6,383,891.44. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann F. Vezina sold 839 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the transaction, the director now directly owns 4,856 shares in the company, valued at $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock worth $6,353,261 in the last three months. 1.00% of the stock is owned by insiders.

TD SYNNEX Price Performance

NYSE SNX opened at $104.13 on Tuesday. The company has a 50 day simple moving average of $135.01 and a 200-day simple moving average of $125.70. TD SYNNEX Co. has a 52-week low of $98.00 and a 52-week high of $145.10. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. 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 (NYSE:SNX) last issued its earnings results 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 period last year, the business earned $2.99 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts predict that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s payout ratio is currently 22.11%.

TD SYNNEX Company 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.