Bayesian Capital Management LP Invests $1.25 Million in TD SYNNEX Co. (NYSE:SNX)

Bayesian Capital Management LP bought a new position in TD SYNNEX Co. (NYSE:SNX) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 11,021 shares of the business services provider’s stock, valued at approximately $1,246,000.

A number of other large investors have also recently made changes to their positions in the business. ProShare Advisors LLC boosted its position in TD SYNNEX by 3.2% in the 1st quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock valued at $315,000 after buying an additional 86 shares during the period. SummerHaven Investment Management LLC increased its stake in TD SYNNEX by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 7,499 shares of the business services provider’s stock valued at $807,000 after purchasing an additional 102 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in TD SYNNEX by 121.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Teacher Retirement System of Texas increased its stake in TD SYNNEX by 0.6% during the 4th quarter. Teacher Retirement System of Texas now owns 23,242 shares of the business services provider’s stock valued at $2,501,000 after purchasing an additional 142 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC increased its stake in TD SYNNEX by 1.9% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 7,890 shares of the business services provider’s stock valued at $849,000 after purchasing an additional 146 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $118.86 on Wednesday. TD SYNNEX Co. has a 12-month low of $89.73 and a 12-month high of $133.85. The stock has a market cap of $10.16 billion, a P/E ratio of 16.55, a PEG ratio of 1.17 and a beta of 1.52. The company has a 50-day moving average price of $122.28 and a 200 day moving average price of $114.07. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The company had revenue of $13.95 billion for the quarter, compared to analyst estimates of $14.12 billion. Sell-side analysts anticipate that TD SYNNEX Co. will post 11.24 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Friday, July 12th. TD SYNNEX’s payout ratio is 22.41%.

Insider Activity

In other news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the transaction, the insider now owns 134,706 shares of the company’s stock, valued at $15,580,095.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, COO Patrick Zammit sold 3,513 shares of TD SYNNEX stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the transaction, the chief operating officer now owns 140,205 shares in the company, valued at $15,882,422.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the sale, the insider now directly owns 134,706 shares in the company, valued at approximately $15,580,095.96. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a report on Wednesday, June 26th. JPMorgan Chase & Co. lowered their price target on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Royal Bank of Canada raised shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $135.00 to $140.00 in a report on Monday, July 15th. UBS Group increased their price objective on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Bank of America decreased their price objective on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average price target of $127.33.

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.