Los Angeles Capital Management LLC Grows Position in TD SYNNEX Corporation $SNX

Los Angeles Capital Management LLC lifted its stake in shares of TD SYNNEX Corporation (NYSE:SNX) by 395.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 150,030 shares of the business services provider’s stock after buying an additional 119,742 shares during the quarter. Los Angeles Capital Management LLC owned 0.19% of TD SYNNEX worth $23,322,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Ossiam raised its holdings in shares of TD SYNNEX by 84.3% during the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after buying an additional 75 shares during the period. Dorato Capital Management purchased a new stake in shares of TD SYNNEX during the 4th quarter valued at about $27,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of TD SYNNEX during the 3rd quarter valued at about $30,000. Lloyd Advisory Services LLC. purchased a new stake in shares of TD SYNNEX during the 4th quarter valued at about $32,000. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of TD SYNNEX by 675.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider’s stock valued at $37,000 after buying an additional 196 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNX has been the topic of several analyst reports. Morgan Stanley raised their target price on TD SYNNEX from $172.00 to $174.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Barclays raised their target price on TD SYNNEX from $166.00 to $237.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Barrington Research reiterated an “outperform” rating and set a $182.00 target price on shares of TD SYNNEX in a report on Friday, March 27th. Zacks Research lowered TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Weiss Ratings upgraded TD SYNNEX from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, June 2nd. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $212.60.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $268.25 on Monday. TD SYNNEX Corporation has a fifty-two week low of $121.50 and a fifty-two week high of $286.25. The business has a 50 day moving average price of $222.16 and a two-hundred day moving average price of $178.86. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 0.41. The firm has a market cap of $21.56 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 1.16 and a beta of 1.43.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.24 by $1.49. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The firm had revenue of $17.16 billion during the quarter, compared to analyst estimates of $15.59 billion. During the same quarter last year, the firm earned $2.80 EPS. TD SYNNEX’s quarterly revenue was up 18.1% on a year-over-year basis. Sell-side analysts expect that TD SYNNEX Corporation will post 15.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were given a $0.48 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $1.92 annualized dividend and a dividend yield of 0.7%. TD SYNNEX’s dividend payout ratio (DPR) is presently 15.96%.

Insider Transactions at TD SYNNEX

In other news, 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 value of $611,008.50. Following the completion of the transaction, the chief financial officer owned 14,035 shares in the company, valued at approximately $2,659,071.10. This trade represents a 18.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Miriam Anne Murphy sold 3,025 shares of TD SYNNEX stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $200.14, for a total value of $605,423.50. Following the completion of the transaction, the insider owned 10,820 shares of the company’s stock, valued at approximately $2,165,514.80. The trade was a 21.85% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 21,250 shares of company stock worth $4,935,282. 0.70% of the stock is currently owned by corporate insiders.

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.