Thrivent Financial for Lutherans Raises Stock Position in TD SYNNEX Corporation $SNX

Thrivent Financial for Lutherans grew its holdings in TD SYNNEX Corporation (NYSE:SNX) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,000,942 shares of the business services provider’s stock after acquiring an additional 8,163 shares during the period. Thrivent Financial for Lutherans owned about 1.24% of TD SYNNEX worth $150,371,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Ossiam raised its stake in shares of TD SYNNEX by 84.3% in the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Dorato Capital Management purchased a new position in shares of TD SYNNEX in the 4th quarter valued at $27,000. Measured Wealth Private Client Group LLC purchased a new position in shares of TD SYNNEX in the 3rd quarter valued at $30,000. Brown Brothers Harriman & Co. increased its stake in TD SYNNEX by 675.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider’s stock worth $37,000 after buying an additional 196 shares during the period. Finally, Root Financial Partners LLC purchased a new stake in TD SYNNEX during the 3rd quarter worth $42,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling at TD SYNNEX

In other news, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $233.85, for a total value of $1,169,250.00. Following the completion of the transaction, the director directly owned 33,537 shares of the company’s stock, valued at approximately $7,842,627.45. The trade was a 12.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Miriam Anne Murphy sold 3,025 shares of TD SYNNEX stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $200.14, for a total transaction of $605,423.50. Following the completion of the transaction, the insider directly owned 10,820 shares of the company’s stock, valued at $2,165,514.80. This trade represents a 21.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 11,417 shares of company stock valued at $2,412,026. Corporate insiders own 0.70% of the company’s stock.

TD SYNNEX Price Performance

Shares of SNX stock opened at $234.71 on Friday. The firm has a market cap of $18.87 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.01 and a beta of 1.40. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. TD SYNNEX Corporation has a 1-year low of $118.35 and a 1-year high of $242.49. The firm has a fifty day moving average of $192.44 and a two-hundred day moving average of $167.96.

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

TD SYNNEX Dividend Announcement

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

Wall Street Analyst Weigh In

SNX has been the topic of several analyst reports. Morgan Stanley lifted 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. Barrington Research reaffirmed an “outperform” rating and set a $182.00 price target on shares of TD SYNNEX in a research note on Friday, March 27th. Zacks Research raised shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 6th. JPMorgan Chase & Co. lifted their price target on shares of TD SYNNEX from $185.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Finally, Wall Street Zen raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $197.70.

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.