Bank of Montreal Can Has $1.07 Million Stock Position in TD SYNNEX Co. (NYSE:SNX)

Bank of Montreal Can boosted its position in TD SYNNEX Co. (NYSE:SNX) by 12.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,147 shares of the business services provider’s stock after acquiring an additional 1,047 shares during the period. Bank of Montreal Can’s holdings in TD SYNNEX were worth $1,073,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNX. Vanguard Group Inc. lifted its holdings in TD SYNNEX by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock valued at $901,323,000 after buying an additional 29,659 shares during the period. FMR LLC boosted its position in shares of TD SYNNEX by 3.2% in the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock worth $898,738,000 after purchasing an additional 237,587 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in TD SYNNEX by 10.7% in the fourth quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider’s stock valued at $391,188,000 after purchasing an additional 323,282 shares during the last quarter. Ninety One UK Ltd lifted its stake in TD SYNNEX by 75.4% in 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 buying an additional 1,016,251 shares during the period. Finally, Lyrical Asset Management LP grew its position in shares of TD SYNNEX by 3.6% during the 4th quarter. Lyrical Asset Management LP now owns 1,288,363 shares of the business services provider’s stock worth $151,099,000 after buying an additional 44,309 shares during the period. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Stock Up 1.4 %

TD SYNNEX stock opened at $105.67 on Friday. The company has a fifty day simple moving average of $122.38 and a 200 day simple moving average of $123.89. 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 Co. has a 1-year low of $92.23 and a 1-year high of $145.10. The company has a market cap of $8.87 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 1.06 and a beta of 1.36.

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

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a $0.44 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.67%. TD SYNNEX’s payout ratio is 21.97%.

Insider Buying and Selling

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the company’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 transaction, the director now directly owns 65,480 shares of the company’s stock, valued at $8,897,422.40. This represents a 23.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the completion of the sale, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,333 shares of company stock valued at $3,886,690. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

SNX has been the topic of several recent analyst reports. Barrington Research reissued an “outperform” rating and set a $156.00 price objective on shares of TD SYNNEX in a research note on Friday, April 11th. UBS Group lowered their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Friday, March 28th. JPMorgan Chase & Co. decreased their target price on TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Royal Bank of Canada cut their price objective on TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Finally, Barclays dropped their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $137.22.

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.