Allspring Global Investments Holdings LLC Increases Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Allspring Global Investments Holdings LLC lifted its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,101 shares of the business services provider’s stock after buying an additional 238 shares during the period. Allspring Global Investments Holdings LLC’s holdings in TD SYNNEX were worth $764,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Diversified Trust Co lifted its holdings in TD SYNNEX by 15.9% during the fourth quarter. Diversified Trust Co now owns 2,989 shares of the business services provider’s stock worth $322,000 after acquiring an additional 409 shares during the period. Raymond James Trust N.A. lifted its holdings in TD SYNNEX by 9.0% during the fourth quarter. Raymond James Trust N.A. now owns 3,613 shares of the business services provider’s stock worth $389,000 after acquiring an additional 297 shares during the period. Signaturefd LLC lifted its holdings in TD SYNNEX by 28.9% during the third quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock worth $95,000 after acquiring an additional 214 shares during the period. Vanguard Group Inc. lifted its holdings in TD SYNNEX by 4.0% during the third quarter. Vanguard Group Inc. now owns 5,008,606 shares of the business services provider’s stock worth $500,159,000 after acquiring an additional 193,198 shares during the period. Finally, Rafferty Asset Management LLC bought a new stake in TD SYNNEX during the third quarter worth $750,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

Shares of SNX opened at $117.24 on Thursday. The stock’s 50-day simple moving average is $108.48 and its 200 day simple moving average is $103.05. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.08 and a beta of 1.64. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22. 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, topping analysts’ consensus estimates of $2.71 by $0.12. The business had revenue of $13.98 billion for 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%. Research analysts forecast that TD SYNNEX Co. will post 11.38 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be paid a $0.40 dividend. The ex-dividend date is Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.36%. TD SYNNEX’s dividend payout ratio is currently 23.22%.

Analyst Ratings Changes

SNX has been the topic of several research reports. Bank of America boosted their target price on TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. upped their price target on TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Cfra upped their price target on TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research report on Tuesday, March 26th. UBS Group raised TD SYNNEX from a “neutral” rating to a “buy” rating and upped their price target for the company from $115.00 to $145.00 in a research report on Tuesday, April 16th. Finally, Barclays upped their price target on TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and a consensus price target of $121.82.

Insiders Place Their Bets

In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the company’s 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 transaction, the chief executive officer now directly owns 229,363 shares in the company, valued at approximately $24,213,851.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the transaction, the insider now directly owns 134,706 shares in the company, valued at approximately $15,908,778.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.57, for a total value of $1,055,700.00. Following the transaction, the chief executive officer now owns 229,363 shares in the company, valued at $24,213,851.91. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

TD SYNNEX Company 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.