Uniting Wealth Partners LLC Invests $412,000 in TD SYNNEX Co. (NYSE:SNX)

Uniting Wealth Partners LLC purchased a new stake in TD SYNNEX Co. (NYSE:SNX) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 3,514 shares of the business services provider’s stock, valued at approximately $412,000.

Several other hedge funds have also modified their holdings of the stock. The Manufacturers Life Insurance Company grew its position in TD SYNNEX by 1.1% in the third quarter. The Manufacturers Life Insurance Company now owns 68,289 shares of the business services provider’s stock valued at $8,200,000 after acquiring an additional 746 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of TD SYNNEX by 7.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,005 shares of the business services provider’s stock valued at $1,922,000 after acquiring an additional 1,120 shares during the period. Rockefeller Capital Management L.P. increased its position in TD SYNNEX by 1.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 11,227 shares of the business services provider’s stock valued at $1,348,000 after acquiring an additional 141 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of TD SYNNEX during the third quarter valued at about $203,000. Finally, Paloma Partners Management Co bought a new position in shares of TD SYNNEX in the third quarter valued at approximately $264,000. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

Shares of SNX opened at $106.73 on Thursday. TD SYNNEX Co. has a 1 year low of $98.00 and a 1 year high of $145.10. The stock’s fifty day moving average price is $133.58 and its two-hundred day moving average price is $125.50. The firm has a market cap of $9.00 billion, a PE ratio of 13.41, a PEG ratio of 1.06 and a beta of 1.51. 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 announced its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) 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 the consensus estimate of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.99 earnings per share. On average, equities research analysts forecast that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.65%. TD SYNNEX’s dividend payout ratio is currently 21.97%.

Insider Transactions at TD SYNNEX

In other news, Director Ann F. Vezina sold 839 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the transaction, the director now owns 4,856 shares in the company, valued at $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the transaction, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,172 shares of company stock worth $6,353,261. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Cfra cut their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. UBS Group cut their price objective on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Barclays lowered their price target on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

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.