Legal & General Group Plc Sells 41,842 Shares of TD SYNNEX Corporation $SNX

Legal & General Group Plc trimmed its stake in shares of TD SYNNEX Corporation (NYSE:SNX) by 23.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 137,152 shares of the business services provider’s stock after selling 41,842 shares during the period. Legal & General Group Plc’s holdings in TD SYNNEX were worth $20,604,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ossiam grew its position in TD SYNNEX by 84.3% in the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock worth $27,000 after purchasing an additional 75 shares during the period. Dorato Capital Management bought a new position in shares of TD SYNNEX during 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 worth $30,000. Lloyd Advisory Services LLC. bought a new stake in shares of TD SYNNEX in the fourth quarter worth $32,000. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of TD SYNNEX by 675.9% in the third quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider’s stock worth $37,000 after acquiring an additional 196 shares during the period. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Down 0.3%

SNX opened at $260.46 on Monday. The stock has a market cap of $20.94 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 1.13 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22. The firm’s fifty day moving average is $210.50 and its 200 day moving average is $174.46. TD SYNNEX Corporation has a fifty-two week low of $118.35 and a fifty-two week high of $264.81.

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

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were given a dividend of $0.48 per share. 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 Activity at TD SYNNEX

In related news, Director Richard T. Hume sold 5,000 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $229.54, for a total transaction of $1,147,700.00. Following the completion of the transaction, the director owned 28,537 shares in the company, valued at approximately $6,550,382.98. This represents a 14.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 on 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 sale, the insider owned 10,820 shares in the company, valued at approximately $2,165,514.80. This represents a 21.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,417 shares of company stock worth $3,559,726 over the last ninety days. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on SNX shares. UBS Group increased their target price on TD SYNNEX from $193.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. The Goldman Sachs Group upped their price target on shares of TD SYNNEX from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Zacks Research upgraded shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. Finally, Morgan Stanley upped their target price on shares of TD SYNNEX from $172.00 to $174.00 and gave the company an “overweight” rating in a report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $212.60.

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.