TD SYNNEX Co. (NYSE:SNX) Stake Increased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP boosted its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 155.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,812 shares of the business services provider’s stock after buying an additional 27,282 shares during the period. ExodusPoint Capital Management LP owned approximately 0.05% of TD SYNNEX worth $5,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Rockefeller Capital Management L.P. lifted its position in shares of TD SYNNEX by 1.3% in the third quarter. Rockefeller Capital Management L.P. now owns 11,227 shares of the business services provider’s stock worth $1,348,000 after purchasing an additional 141 shares in the last quarter. Centiva Capital LP lifted its position in TD SYNNEX by 48.6% in the 3rd quarter. Centiva Capital LP now owns 6,712 shares of the business services provider’s stock worth $806,000 after buying an additional 2,195 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of TD SYNNEX during the 3rd quarter valued at $55,000. Quantinno Capital Management LP grew its holdings in shares of TD SYNNEX by 5.6% during the 3rd quarter. Quantinno Capital Management LP now owns 15,770 shares of the business services provider’s stock valued at $1,894,000 after acquiring an additional 831 shares in the last quarter. Finally, State Street Corp increased its stake in shares of TD SYNNEX by 0.7% in the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock worth $262,943,000 after acquiring an additional 15,995 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Trading Down 3.8 %

Shares of SNX stock opened at $95.75 on Friday. The firm has a market capitalization of $8.08 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. TD SYNNEX Co. has a 1 year low of $94.46 and a 1 year high of $145.10. The firm’s fifty day simple moving average is $131.78 and its 200 day simple moving average is $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 announced 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). 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 in the prior year, the company posted $2.99 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

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

Wall Street Analysts Forecast Growth

SNX has been the subject of a number of research reports. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Royal Bank of Canada increased their price objective on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. JPMorgan Chase & Co. reduced their target price 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, March 28th. The Goldman Sachs Group dropped their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $156.00 price objective on shares of TD SYNNEX in a research note on Friday, March 28th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $140.00.

Insider Activity at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the sale, the director now owns 65,480 shares of the company’s stock, valued at $8,897,422.40. The trade was a 23.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the transaction, the chief financial officer now owns 49,843 shares of the company’s stock, valued at approximately $6,383,891.44. This represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,172 shares of company stock worth $4,000,861. 1.00% of the stock is owned by corporate insiders.

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.