Jackson Creek Investment Advisors LLC Makes New $437,000 Investment in TD SYNNEX Corporation $SNX

Jackson Creek Investment Advisors LLC acquired a new position in TD SYNNEX Corporation (NYSE:SNX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 2,908 shares of the business services provider’s stock, valued at approximately $437,000.

A number of other institutional investors have also added to or reduced their stakes in SNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in TD SYNNEX by 9.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider’s stock worth $1,749,000 after purchasing an additional 1,460 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of TD SYNNEX by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock valued at $18,631,000 after purchasing an additional 9,815 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of TD SYNNEX by 6.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock valued at $21,226,000 after purchasing an additional 12,615 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of TD SYNNEX during the second quarter valued at approximately $818,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of TD SYNNEX by 17.4% during the second quarter. EverSource Wealth Advisors LLC now owns 852 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 126 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SNX. JPMorgan Chase & Co. upgraded shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 target price for the company in a report on Wednesday. Weiss Ratings reiterated a “buy (b)” rating on shares of TD SYNNEX in a research note on Monday, May 4th. Zacks Research upgraded shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 6th. Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Morgan Stanley upped their price target on shares of TD SYNNEX from $172.00 to $174.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, TD SYNNEX has a consensus rating of “Buy” and an average target price of $205.50.

TD SYNNEX Stock Performance

Shares of SNX opened at $247.13 on Thursday. The business’s fifty day simple moving average is $206.51 and its two-hundred day simple moving average is $173.04. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. TD SYNNEX Corporation has a 12 month low of $118.35 and a 12 month high of $250.96. The company has a market cap of $19.87 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 1.05 and a beta of 1.40.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, beating the consensus estimate of $3.24 by $1.49. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The business had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $15.59 billion. During the same period last year, the business posted $2.80 EPS. The company’s revenue was up 18.1% compared to the same quarter last year. Research analysts anticipate that TD SYNNEX Corporation will post 15.69 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were paid a $0.48 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.8%. TD SYNNEX’s payout ratio is currently 15.96%.

Insider Activity at TD SYNNEX

In other news, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $229.54, for a total value of $1,147,700.00. Following the completion of the sale, the director directly owned 28,537 shares in the company, valued at $6,550,382.98. The trade was a 14.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Gregory Jordan sold 3,225 shares of TD SYNNEX stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $189.46, for a total transaction of $611,008.50. Following the completion of the sale, the chief financial officer owned 14,035 shares of the company’s stock, valued at $2,659,071.10. This represents a 18.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 16,417 shares of company stock valued at $3,559,726. Insiders own 0.70% of the company’s stock.

TD SYNNEX Company Profile

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.