2,966 Shares in TD SYNNEX Co. (NYSE:SNX) Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC acquired a new position in shares of TD SYNNEX Co. (NYSE:SNX) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,966 shares of the business services provider’s stock, valued at approximately $335,000.

A number of other large investors also recently modified their holdings of the business. SummerHaven Investment Management LLC boosted its stake in shares of TD SYNNEX by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 7,499 shares of the business services provider’s stock worth $807,000 after buying an additional 102 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of TD SYNNEX by 0.6% during the 4th quarter. Teacher Retirement System of Texas now owns 23,242 shares of the business services provider’s stock worth $2,501,000 after buying an additional 142 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in shares of TD SYNNEX by 1.9% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 7,890 shares of the business services provider’s stock worth $849,000 after buying an additional 146 shares during the last quarter. Assetmark Inc. boosted its stake in shares of TD SYNNEX by 11.8% during the 4th quarter. Assetmark Inc. now owns 2,030 shares of the business services provider’s stock worth $218,000 after buying an additional 214 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of TD SYNNEX by 3.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,101 shares of the business services provider’s stock worth $764,000 after buying an additional 238 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Stock Down 0.7 %

TD SYNNEX stock opened at $116.16 on Thursday. TD SYNNEX Co. has a twelve month low of $87.68 and a twelve month high of $133.85. The company’s 50-day moving average price is $124.64 and its two-hundred day moving average price is $112.49. The stock has a market cap of $10.35 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.13 and a beta of 1.55. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, topping the consensus estimate of $2.71 by $0.12. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.22%. The company had revenue of $13.98 billion for the quarter, compared to analysts’ expectations of $14.37 billion. As a group, analysts expect that TD SYNNEX Co. will post 11.38 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 1.38%. TD SYNNEX’s dividend payout ratio is presently 22.41%.

Wall Street Analysts Forecast Growth

SNX has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $135.00 target price on shares of TD SYNNEX in a report on Wednesday. Barclays upped their target price on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Cfra upped their target price on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a report on Tuesday, March 26th. UBS Group upped their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.55.

Insider Transactions at TD SYNNEX

In related news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the sale, the chief executive officer now owns 219,363 shares in the company, valued at approximately $25,400,041.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the sale, the chief executive officer now owns 219,363 shares in the company, valued at approximately $25,400,041.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

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.