Los Angeles Capital Management LLC Takes Position in TD SYNNEX Co. (NYSE:SNX)

Los Angeles Capital Management LLC acquired a new stake in shares of TD SYNNEX Co. (NYSE:SNX) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,966 shares of the business services provider’s stock, valued at approximately $335,000.

A number of other institutional investors have also recently made changes to their positions in SNX. Pineridge Advisors LLC bought a new stake in TD SYNNEX in the fourth quarter valued at $33,000. Gladius Capital Management LP boosted its holdings in TD SYNNEX by 50.8% in the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after acquiring an additional 250 shares in the last quarter. Kapitalo Investimentos Ltda boosted its holdings in TD SYNNEX by 75.6% in the fourth quarter. Kapitalo Investimentos Ltda now owns 1,582 shares of the business services provider’s stock valued at $170,000 after acquiring an additional 681 shares in the last quarter. Shelton Capital Management bought a new stake in TD SYNNEX in the third quarter valued at $207,000. Finally, 9258 Wealth Management LLC bought a new stake in shares of TD SYNNEX during the 4th quarter valued at $207,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the sale, the chief executive officer now owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the sale, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Cfra boosted their target price on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a report on Tuesday, March 26th. UBS Group boosted their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Barrington Research restated an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a report on Wednesday. Bank of America boosted their target price on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Barclays boosted their target price on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.55.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $116.16 on Thursday. TD SYNNEX Co. has a fifty-two week low of $87.68 and a fifty-two week high of $133.85. The business has a 50-day simple moving average of $124.64 and a two-hundred day simple moving average of $112.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22. The firm has a market cap of $10.35 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 1.13 and a beta of 1.55.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. TD SYNNEX had a return on equity of 12.22% and a net margin of 1.14%. The business had revenue of $13.98 billion during the quarter, compared to analyst estimates of $14.37 billion. On average, analysts expect that TD SYNNEX Co. will post 11.38 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, July 12th. TD SYNNEX’s dividend payout ratio (DPR) is 22.41%.

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.