SummerHaven Investment Management LLC boosted its holdings in TD SYNNEX Co. (NYSE:SNX – Get Rating) by 4.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,643 shares of the business services provider’s stock after acquiring an additional 339 shares during the period. SummerHaven Investment Management LLC’s holdings in TD SYNNEX were worth $789,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC increased its stake in shares of TD SYNNEX by 15.4% in the third quarter. Janus Henderson Group PLC now owns 20,714 shares of the business services provider’s stock valued at $2,156,000 after purchasing an additional 2,766 shares during the period. Captrust Financial Advisors increased its stake in shares of TD SYNNEX by 84.7% in the third quarter. Captrust Financial Advisors now owns 3,357 shares of the business services provider’s stock valued at $349,000 after purchasing an additional 1,539 shares during the period. Schonfeld Strategic Advisors LLC increased its stake in shares of TD SYNNEX by 1.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 6,021 shares of the business services provider’s stock valued at $627,000 after purchasing an additional 89 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of TD SYNNEX by 4.3% in the third quarter. UBS Asset Management Americas Inc. now owns 108,219 shares of the business services provider’s stock valued at $11,266,000 after purchasing an additional 4,503 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of TD SYNNEX by 8.8% in the fourth quarter. State of Alaska Department of Revenue now owns 6,944 shares of the business services provider’s stock valued at $793,000 after purchasing an additional 564 shares during the period. 85.54% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on SNX shares. Citigroup dropped their price target on shares of TD SYNNEX from $165.00 to $150.00 in a research note on Wednesday. Raymond James raised their price objective on shares of TD SYNNEX from $170.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, March 25th. StockNews.com assumed coverage on shares of TD SYNNEX in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Stifel Nicolaus upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Thursday, April 14th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TD SYNNEX currently has a consensus rating of “Buy” and an average target price of $144.71.
NYSE:SNX traded down $2.35 during trading hours on Wednesday, reaching $90.53. 6,504 shares of the company’s stock were exchanged, compared to its average volume of 345,401. The company has a market capitalization of $8.70 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 0.83 and a beta of 1.60. TD SYNNEX Co. has a 12 month low of $89.07 and a 12 month high of $130.93. The company has a quick ratio of 0.73, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The business’s 50-day simple moving average is $99.20 and its two-hundred day simple moving average is $103.85.
TD SYNNEX (NYSE:SNX – Get Rating) last issued its earnings results on Tuesday, June 28th. The business services provider reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.07. The firm had revenue of $15.27 billion during the quarter, compared to analysts’ expectations of $15.25 billion. TD SYNNEX had a net margin of 1.04% and a return on equity of 14.87%. The firm’s revenue for the quarter was up 160.7% compared to the same quarter last year. During the same period last year, the firm posted $2.00 earnings per share. As a group, sell-side analysts anticipate that TD SYNNEX Co. will post 11 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Thursday, July 14th. TD SYNNEX’s dividend payout ratio is 19.35%.
About TD SYNNEX (Get Rating)
TD SYNNEX Corporation provides business process services in the United States and internationally. The company distributes PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, consumer electronics, information technology (IT) systems including data center server and storage solutions, system components, software, networking, communications and security equipment, consumer electronics, and complementary products.
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