Mackenzie Financial Corp Has $740,000 Holdings in TD SYNNEX Co. (NYSE:SNX)

Mackenzie Financial Corp cut its holdings in TD SYNNEX Co. (NYSE:SNX) by 39.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,310 shares of the business services provider’s stock after selling 4,088 shares during the period. Mackenzie Financial Corp’s holdings in TD SYNNEX were worth $740,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. raised its holdings in shares of TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 129 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of 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 purchasing an additional 116 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in TD SYNNEX by 196.5% during the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider’s stock worth $59,000 after buying an additional 336 shares during the last quarter. Finally, Amundi increased its holdings in TD SYNNEX by 22.3% during the fourth quarter. Amundi now owns 560 shares of the business services provider’s stock worth $66,000 after buying an additional 102 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Marshall Witt sold 1,510 shares of the business’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 of the company’s stock, valued at approximately $6,383,891.44. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Miriam Anne Murphy sold 3,000 shares of the business’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the sale, the insider now directly owns 14,883 shares of the company’s stock, valued at approximately $1,637,130. The trade was a 16.78% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

TD SYNNEX Price Performance

Shares of SNX opened at $121.29 on Monday. The firm has a market capitalization of $10.18 billion, a PE ratio of 15.24, a PEG ratio of 1.06 and a beta of 1.33. The company’s 50-day moving average is $112.16 and its 200-day moving average is $123.47. TD SYNNEX Co. has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. 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 (NYSE:SNX) last issued its quarterly earnings data 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). The company had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. TD SYNNEX’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.99 earnings per share. Equities analysts forecast that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.45%. TD SYNNEX’s payout ratio is presently 21.97%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SNX. UBS Group lowered their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Friday, March 28th. JPMorgan Chase & Co. lowered their target price on shares of TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Cfra lowered their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Royal Bank of Canada lowered their target price on shares of 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 lowered 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.22.

About TD SYNNEX

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.