JPMorgan Chase & Co. Buys 323,282 Shares of TD SYNNEX Co. (NYSE:SNX)

JPMorgan Chase & Co. increased its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 10.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,335,501 shares of the business services provider’s stock after acquiring an additional 323,282 shares during the quarter. JPMorgan Chase & Co. owned approximately 3.94% of TD SYNNEX worth $391,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Bartlett & CO. Wealth Management LLC increased its stake in shares of 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 buying an additional 176 shares during the period. UMB Bank n.a. grew its holdings in TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after acquiring an additional 140 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of TD SYNNEX in the third quarter valued at about $55,000. Blue Trust Inc. raised its stake in shares of TD SYNNEX by 37.7% during the fourth 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 holdings in shares of TD SYNNEX by 31.9% during the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock worth $56,000 after purchasing an additional 116 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Trading Down 2.9 %

NYSE:SNX opened at $104.45 on Friday. The firm has a market capitalization of $8.81 billion, a P/E ratio of 13.12, a PEG 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 Co. has a one year low of $98.00 and a one year high of $145.10. The company’s 50-day simple moving average is $135.67 and its 200 day simple moving average is $125.64.

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 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 during the quarter, compared to analysts’ expectations of $14.79 billion. During the same quarter in the previous year, the company earned $2.99 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, analysts forecast that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SNX. The Goldman Sachs Group lowered their price target on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a research report on Friday. Cfra dropped their price target on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Friday. Royal Bank of Canada lifted their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Barrington Research reaffirmed an “outperform” rating and issued a $156.00 target price on shares of TD SYNNEX in a research report on Friday. Finally, JPMorgan Chase & Co. cut their target price on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

Insider Buying and Selling at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of the sale, the director now owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total value 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 trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,172 shares of company stock worth $6,353,261. 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.