Mackenzie Financial Corp Purchases 628 Shares of TD SYNNEX Co. (NYSE:SNX)

Mackenzie Financial Corp boosted its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 9.9% in the fourth quarter, HoldingsChannel reports. The firm owned 7,002 shares of the business services provider’s stock after purchasing an additional 628 shares during the quarter. Mackenzie Financial Corp’s holdings in TD SYNNEX were worth $753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC boosted its position in TD SYNNEX by 4.7% during the third quarter. FMR LLC now owns 6,853,828 shares of the business services provider’s stock worth $684,423,000 after purchasing an additional 307,844 shares during the period. Vanguard Group Inc. boosted its position 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 purchasing an additional 193,198 shares during the period. Pacer Advisors Inc. boosted its position in TD SYNNEX by 33,158.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock worth $143,767,000 after purchasing an additional 1,331,988 shares during the period. AQR Capital Management LLC boosted its position in TD SYNNEX by 2.3% during 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 purchasing an additional 25,054 shares during the period. Finally, Causeway Capital Management LLC boosted its position in TD SYNNEX by 23.0% during the third quarter. Causeway Capital Management LLC now owns 778,367 shares of the business services provider’s stock worth $77,728,000 after purchasing an additional 145,552 shares during the period. 84.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. UBS Group raised TD SYNNEX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $115.00 to $145.00 in a report on Tuesday, April 16th. Barrington Research lifted their target price on TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Barclays lifted their target price on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 27th. Finally, Cfra lifted their target price on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a report on Tuesday, March 26th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.82.

TD SYNNEX Stock Up 0.1 %

SNX stock opened at $117.38 on Friday. The company has a market cap of $10.46 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 1.10 and a beta of 1.64. The business has a 50-day simple moving average of $108.79 and a 200 day simple moving average of $103.15. TD SYNNEX Co. has a 52 week low of $86.30 and a 52 week high of $119.87. 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 (NYSE:SNX) last posted its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.12. The business had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $14.37 billion. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. Sell-side analysts anticipate that TD SYNNEX Co. will post 11.38 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, April 11th. TD SYNNEX’s dividend payout ratio is presently 23.22%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $118.10, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $118.10, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX 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 completion of the transaction, the chief executive officer now owns 229,363 shares in the company, valued at approximately $24,213,851.91. The disclosure for this sale can be found here. Company insiders own 1.90% 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.