Mariner LLC Boosts Holdings in TD SYNNEX Co. (NYSE:SNX)

Mariner LLC increased its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,348 shares of the business services provider’s stock after buying an additional 342 shares during the period. Mariner LLC’s holdings in TD SYNNEX were worth $510,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arizona State Retirement System increased its position in shares of TD SYNNEX by 0.4% during the fourth quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock worth $2,607,000 after acquiring an additional 78 shares during the period. Quadrant Capital Group LLC raised its position in TD SYNNEX by 9.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider’s stock valued at $125,000 after purchasing an additional 90 shares in the last quarter. Amundi boosted its stake in shares of TD SYNNEX by 22.3% in the 4th quarter. Amundi now owns 560 shares of the business services provider’s stock valued at $66,000 after buying an additional 102 shares during the period. Highland Capital Management LLC increased its stake in shares of TD SYNNEX by 6.5% during the fourth quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider’s stock worth $223,000 after buying an additional 116 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in TD SYNNEX by 31.9% in the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SNX. The Goldman Sachs Group lowered their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a report on Friday, March 28th. Barrington Research reiterated an “outperform” rating and issued a $156.00 price target on shares of TD SYNNEX in a research note on Friday, April 11th. JPMorgan Chase & Co. reduced their price objective on shares of TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Royal Bank of Canada dropped their target price on shares of TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Finally, Cfra reduced their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TD SYNNEX has a consensus rating of “Moderate Buy” and an average price target of $137.22.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $112.00 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10. The company has a 50-day simple moving average of $116.30 and a 200-day simple moving average of $123.30. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.06 and a beta of 1.36.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data 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). The company had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.99 earnings per share. On average, 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 was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.57%. TD SYNNEX’s dividend payout ratio is currently 21.97%.

Insiders Place Their Bets

In related news, CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the sale, the chief financial officer now owns 49,843 shares in the company, valued at $6,383,891.44. This trade represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction that occurred 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 owns 65,480 shares in the company, valued at $8,897,422.40. The trade was a 23.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,510 shares of company stock worth $3,241,001. 1.00% of the stock is owned by insiders.

TD SYNNEX Company 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.