Guyasuta Investment Advisors Inc. Acquires New Position in TD SYNNEX Co. (NYSE:SNX)

Guyasuta Investment Advisors Inc. acquired a new stake in TD SYNNEX Co. (NYSE:SNX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,260 shares of the business services provider’s stock, valued at approximately $243,000.

A number of other institutional investors have also recently made changes to their positions in the business. FMR LLC grew its holdings in shares of TD SYNNEX by 4.7% in the third quarter. FMR LLC now owns 6,853,828 shares of the business services provider’s stock valued at $684,423,000 after purchasing an additional 307,844 shares in the last quarter. Vanguard Group Inc. lifted its stake in TD SYNNEX by 4.0% in 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 last quarter. Pacer Advisors Inc. lifted its stake in TD SYNNEX by 33,158.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock worth $143,767,000 after acquiring an additional 1,331,988 shares during the last quarter. AQR Capital Management LLC lifted its stake in TD SYNNEX by 2.3% in the third quarter. AQR Capital Management LLC now owns 1,124,694 shares of the business services provider’s stock worth $112,312,000 after acquiring an additional 25,054 shares during the last quarter. Finally, Causeway Capital Management LLC lifted its stake in TD SYNNEX by 23.0% in the third quarter. Causeway Capital Management LLC now owns 778,367 shares of the business services provider’s stock worth $77,728,000 after acquiring an additional 145,552 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SNX shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $118.00 price target (up previously from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. UBS Group upgraded shares of TD SYNNEX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $115.00 to $145.00 in a research note on Tuesday, April 16th. Bank of America boosted their price objective on shares of TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Barclays boosted their price objective on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 27th. Finally, Barrington Research boosted their price objective on shares of TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.82.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX 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 value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, 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 transaction 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 legal filing with the SEC, which is available at this hyperlink. Also, 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 owns 134,706 shares in the company, valued at $15,908,778.60. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

TD SYNNEX Stock Performance

NYSE:SNX opened at $118.93 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. TD SYNNEX Co. has a fifty-two week low of $86.30 and a fifty-two week high of $119.87. The stock has a market cap of $10.60 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.10 and a beta of 1.64. The firm’s fifty day simple moving average is $109.48 and its 200-day simple moving average is $103.52.

TD SYNNEX (NYSE:SNX) last posted its quarterly 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 net margin of 1.12% and a return on equity of 12.16%. The business had revenue of $13.98 billion for the quarter, compared to analysts’ expectations of $14.37 billion. Analysts expect that TD SYNNEX Co. will post 11.38 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were issued a $0.40 dividend. The ex-dividend date was Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.35%. TD SYNNEX’s dividend payout ratio (DPR) is 23.22%.

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.