GW&K Investment Management LLC Has $14.16 Million Position in TD SYNNEX Co. (NYSE:SNX)

GW&K Investment Management LLC trimmed its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 4.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 131,561 shares of the business services provider’s stock after selling 5,950 shares during the period. GW&K Investment Management LLC owned approximately 0.15% of TD SYNNEX worth $14,157,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of SNX. Gladius Capital Management LP lifted its holdings in shares of TD SYNNEX by 50.8% in the 3rd quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock worth $74,000 after acquiring an additional 250 shares during the last quarter. Signaturefd LLC raised its stake in TD SYNNEX by 28.9% during the third quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock valued at $95,000 after buying an additional 214 shares during the last quarter. Fifth Third Bancorp increased its position in shares of TD SYNNEX by 19.2% during the third quarter. Fifth Third Bancorp now owns 1,444 shares of the business services provider’s stock valued at $144,000 after acquiring an additional 233 shares in the last quarter. Shelton Capital Management bought a new position in TD SYNNEX during the 3rd quarter valued at about $207,000. Finally, 9258 Wealth Management LLC bought a new stake in shares of TD SYNNEX in the fourth quarter worth $207,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Activity at TD SYNNEX

In other news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the completion of the sale, the chief executive officer now owns 219,363 shares of the company’s stock, valued at $25,400,041.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Dennis Polk sold 20,000 shares of TD SYNNEX 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 completion of the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the transaction, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at $25,400,041.77. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,000 shares of company stock worth $4,575,600. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

SNX has been the subject of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $118.00 price target (up from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. Barclays raised their target price on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. UBS Group raised shares of 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 note on Tuesday, April 16th. Cfra lifted their price objective on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research note on Tuesday, March 26th. Finally, Bank of America upped their target price on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $121.82.

TD SYNNEX Stock Performance

TD SYNNEX stock traded up $0.38 during trading hours on Wednesday, reaching $128.28. 40,404 shares of the stock were exchanged, compared to its average volume of 901,239. The stock has a market cap of $11.43 billion, a P/E ratio of 18.56, a P/E/G ratio of 1.20 and a beta of 1.59. The firm’s 50 day moving average is $115.33 and its 200 day moving average is $106.82. 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 $87.68 and a 52-week high of $128.66.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, beating 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 company had revenue of $13.98 billion during the quarter, compared to analysts’ expectations of $14.37 billion. Analysts predict that TD SYNNEX Co. will post 11.38 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a $0.40 dividend. The ex-dividend date was Thursday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.25%. TD SYNNEX’s dividend payout ratio is presently 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.