Vontobel Holding Ltd. Cuts Position in TD SYNNEX Co. (NYSE:SNX)

Vontobel Holding Ltd. cut its stake in TD SYNNEX Co. (NYSE:SNX) by 71.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,693 shares of the business services provider’s stock after selling 6,855 shares during the quarter. Vontobel Holding Ltd.’s holdings in TD SYNNEX were worth $290,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SNX. Pacer Advisors Inc. increased its holdings in shares of TD SYNNEX by 33,158.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock valued at $143,767,000 after acquiring an additional 1,331,988 shares during the period. FMR LLC boosted its position in shares of TD SYNNEX by 4.7% in the 3rd quarter. FMR LLC now owns 6,853,828 shares of the business services provider’s stock worth $684,423,000 after purchasing an additional 307,844 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of TD SYNNEX by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,008,606 shares of the business services provider’s stock worth $500,159,000 after purchasing an additional 193,198 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of TD SYNNEX by 73.4% in the 3rd quarter. Federated Hermes Inc. now owns 354,618 shares of the business services provider’s stock worth $35,412,000 after purchasing an additional 150,099 shares in the last quarter. Finally, Causeway Capital Management LLC boosted its position in shares of TD SYNNEX by 23.0% in the 3rd quarter. Causeway Capital Management LLC now owns 778,367 shares of the business services provider’s stock worth $77,728,000 after purchasing an additional 145,552 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $115.97 on Wednesday. The stock has a market cap of $10.33 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 1.08 and a beta of 1.64. The business has a 50-day simple moving average of $108.15 and a 200-day simple moving average of $102.95. 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 Co. has a 52-week low of $86.30 and a 52-week high of $119.87.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.12. The business had revenue of $13.98 billion during the quarter, compared to analysts’ expectations of $14.37 billion. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. On average, equities analysts expect that TD SYNNEX Co. will post 11.38 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a $0.40 dividend. The ex-dividend date is Thursday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.38%. TD SYNNEX’s dividend payout ratio (DPR) is presently 23.22%.

Insider Activity

In related news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $105.57, for a total value of $1,055,700.00. Following the completion of the transaction, the chief executive officer now owns 229,363 shares in the company, valued at approximately $24,213,851.91. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $105.57, for a total value of $1,055,700.00. Following the completion of the transaction, the chief executive officer now owns 229,363 shares in the company, valued at approximately $24,213,851.91. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the transaction, the insider now owns 134,706 shares of the company’s stock, 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.

Wall Street Analysts Forecast Growth

SNX has been the subject of a number of recent analyst reports. Barrington Research raised their price objective on TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Royal Bank of Canada reissued a “sector perform” rating and issued a $118.00 price objective (up previously from $110.00) on shares of TD SYNNEX in a research report on Wednesday, March 27th. UBS Group raised TD SYNNEX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $115.00 to $145.00 in a research report on Tuesday, April 16th. JPMorgan Chase & Co. raised their price objective on TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Finally, Cfra lifted their price target on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $121.82.

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.