SG Americas Securities LLC Boosts Position in TD SYNNEX Corporation $SNX

SG Americas Securities LLC raised its position in TD SYNNEX Corporation (NYSE:SNX) by 65.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 125,141 shares of the business services provider’s stock after acquiring an additional 49,456 shares during the quarter. SG Americas Securities LLC’s holdings in TD SYNNEX were worth $21,113,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its stake in shares of TD SYNNEX by 0.4% during the 3rd quarter. State Street Corp now owns 2,372,733 shares of the business services provider’s stock valued at $388,535,000 after purchasing an additional 9,024 shares during the period. Ninety One UK Ltd boosted its holdings in shares of TD SYNNEX by 13.1% in the fourth quarter. Ninety One UK Ltd now owns 2,229,091 shares of the business services provider’s stock worth $334,876,000 after buying an additional 258,630 shares during the last quarter. LSV Asset Management grew its position in TD SYNNEX by 16.1% during the fourth quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider’s stock valued at $313,471,000 after buying an additional 288,625 shares during the period. Geode Capital Management LLC increased its holdings in TD SYNNEX by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider’s stock valued at $230,315,000 after buying an additional 99,090 shares during the last quarter. Finally, Nuveen LLC raised its position in TD SYNNEX by 3.8% in the fourth quarter. Nuveen LLC now owns 1,136,085 shares of the business services provider’s stock worth $170,674,000 after acquiring an additional 41,679 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SNX shares. Weiss Ratings downgraded shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 17th. The Goldman Sachs Group upped their price target on TD SYNNEX from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Zacks Research cut TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Morgan Stanley increased their target price on shares of TD SYNNEX from $271.00 to $341.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Barclays raised their target price on shares of TD SYNNEX from $166.00 to $237.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, TD SYNNEX presently has an average rating of “Moderate Buy” and a consensus target price of $249.80.

TD SYNNEX Price Performance

NYSE:SNX opened at $282.13 on Thursday. 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 business’s 50-day simple moving average is $247.10 and its two-hundred day simple moving average is $190.78. The stock has a market cap of $22.68 billion, a PE ratio of 23.45, a P/E/G ratio of 1.19 and a beta of 1.43. TD SYNNEX Corporation has a 52 week low of $133.71 and a 52 week high of $296.47.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, topping 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 in the prior year, the company posted $2.80 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. As a group, analysts forecast that TD SYNNEX Corporation will post 15.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

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

Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $280.38, for a total transaction of $1,401,900.00. Following the completion of the sale, the director directly owned 23,537 shares of the company’s stock, valued at $6,599,304.06. This trade represents a 17.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 shares were sold at an average price of $189.46, for a total transaction of $611,008.50. Following the sale, the chief financial officer owned 14,035 shares in the company, valued at approximately $2,659,071.10. The trade was a 18.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 21,250 shares of company stock worth $4,935,282 in the last three months. 0.70% of the stock is owned by company insiders.

About TD SYNNEX

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.