Bessemer Group Inc. Grows Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Bessemer Group Inc. raised its holdings in TD SYNNEX Co. (NYSE:SNX) by 174.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239 shares of the business services provider’s stock after buying an additional 152 shares during the period. Bessemer Group Inc.’s holdings in TD SYNNEX were worth $28,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. XTX Topco Ltd acquired a new position in TD SYNNEX in the third quarter valued at approximately $219,000. M&T Bank Corp raised its stake in TD SYNNEX by 13.5% during the 3rd quarter. M&T Bank Corp now owns 2,188 shares of the business services provider’s stock worth $263,000 after acquiring an additional 261 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in TD SYNNEX in the third quarter valued at $232,000. Tidal Investments LLC grew its holdings in shares of TD SYNNEX by 9.3% during the third quarter. Tidal Investments LLC now owns 17,121 shares of the business services provider’s stock worth $2,056,000 after purchasing an additional 1,450 shares during the last quarter. Finally, Brass Tax Wealth Management Inc. purchased a new stake in shares of TD SYNNEX in the 3rd quarter valued at about $203,000. 84.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on SNX shares. UBS Group cut their price target on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Royal Bank of Canada lowered their price objective 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. Barrington Research reissued an “outperform” rating and set a $156.00 price target on shares of TD SYNNEX in a report on Friday, April 11th. Barclays reduced their price objective on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. Finally, Cfra cut their price target on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.22.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $105.67 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 market cap of $8.87 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 1.06 and a beta of 1.36. The business has a fifty day moving average of $122.38 and a two-hundred day moving average of $123.89.

TD SYNNEX (NYSE:SNX) last issued its earnings results 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 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 company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.99 earnings per share. As a group, analysts predict that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Friday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 21.97%.

Insider Buying and Selling

In other news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the sale, the director now directly owns 65,480 shares in the company, valued at $8,897,422.40. This represents a 23.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the transaction, the chief executive officer now owns 165,604 shares of the company’s stock, valued at $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,333 shares of company stock worth $3,886,690 in the last three months. Corporate insiders own 1.00% of the company’s stock.

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.