Fulton Bank N.A. Acquires 312 Shares of TD SYNNEX Co. (NYSE:SNX)

Fulton Bank N.A. lifted its holdings in TD SYNNEX Co. (NYSE:SNX) by 10.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,364 shares of the business services provider’s stock after purchasing an additional 312 shares during the quarter. Fulton Bank N.A.’s holdings in TD SYNNEX were worth $362,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SNX. Apollo Management Holdings L.P. bought a new position in shares of TD SYNNEX in the first quarter valued at about $3,622,519,000. Pacer Advisors Inc. raised its holdings in TD SYNNEX by 33,158.8% during the 4th 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 last quarter. AQR Capital Management LLC raised its holdings in TD SYNNEX by 330.6% during the 1st quarter. AQR Capital Management LLC now owns 679,948 shares of the business services provider’s stock worth $64,738,000 after purchasing an additional 522,055 shares during the last quarter. Norges Bank bought a new stake in TD SYNNEX during the 4th quarter worth about $34,999,000. Finally, FMR LLC raised its holdings in TD SYNNEX by 4.7% during the 3rd 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 last quarter. 84.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 229,363 shares of the company’s stock, valued at approximately $24,213,851.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 229,363 shares of the company’s stock, valued at approximately $24,213,851.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Apollo Management Holdings Gp, sold 2,250,000 shares of the stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $101.50, for a total value of $228,375,000.00. Following the completion of the sale, the insider now directly owns 26,153,049 shares of the company’s stock, valued at approximately $2,654,534,473.50. The disclosure for this sale can be found here. Insiders sold a total of 2,289,905 shares of company stock valued at $232,556,362 in the last quarter. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SNX. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Barrington Research boosted their price objective on TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Barclays boosted their price objective on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their target price on TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $118.00 target price (up from $110.00) on shares of TD SYNNEX in a research report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $118.18.

TD SYNNEX Trading Up 0.4 %

NYSE:SNX opened at $117.72 on Monday. TD SYNNEX Co. has a twelve month low of $86.30 and a twelve month 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. The business has a 50 day moving average price of $104.84 and a two-hundred day moving average price of $101.66. The company has a market cap of $10.32 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, January 9th. The business services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.57. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. The firm had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $14.54 billion. During the same quarter in the prior year, the firm posted $3.30 EPS. The business’s revenue was down 11.3% on a year-over-year basis. As a group, analysts expect that TD SYNNEX Co. will post 11.17 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

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

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.