Pictet Asset Management Holding SA Has $1.37 Million Holdings in TD SYNNEX Co. (NYSE:SNX)

Pictet Asset Management Holding SA grew its position in shares of TD SYNNEX Co. (NYSE:SNX) by 9.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,667 shares of the business services provider’s stock after buying an additional 1,026 shares during the quarter. Pictet Asset Management Holding SA’s holdings in TD SYNNEX were worth $1,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in SNX. Bartlett & CO. Wealth Management LLC grew its position in TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares in the last quarter. UMB Bank n.a. increased its position 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 worth $50,000 after buying an additional 140 shares during the last quarter. Point72 DIFC Ltd bought a new position in TD SYNNEX during the third quarter valued at about $55,000. Blue Trust Inc. lifted its position 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 worth $55,000 after buying an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake 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 worth $56,000 after acquiring an additional 116 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

SNX has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their target price on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a report on Friday, March 28th. Barrington Research reaffirmed an “outperform” rating and set a $156.00 price objective on shares of TD SYNNEX in a report on Friday, March 28th. UBS Group dropped their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Cfra lowered their price target on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Finally, Royal Bank of Canada boosted their price objective on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Three 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 stock currently has an average rating of “Moderate Buy” and an average target price of $140.00.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, 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 completion of the transaction, the director now directly owns 4,856 shares in the company, valued at $660,804.48. This represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the completion of the sale, the director now owns 65,480 shares in the company, valued at $8,897,422.40. This represents a 23.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,172 shares of company stock valued at $4,000,861. 1.00% of the stock is currently owned by corporate insiders.

TD SYNNEX Price Performance

Shares of SNX stock opened at $95.75 on Friday. TD SYNNEX Co. has a 12 month low of $94.46 and a 12 month high of $145.10. The company has a market capitalization of $8.08 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.06 and a beta of 1.51. The stock has a 50 day moving average of $131.78 and a two-hundred day moving average of $125.26. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last posted its quarterly 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 return on equity of 11.91% and a net margin of 1.18%. The business had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same quarter in the prior year, the firm earned $2.99 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities analysts expect that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s dividend payout ratio is 21.97%.

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.