LGT Fund Management Co Ltd. Purchases Shares of 24,000 TD SYNNEX Corporation (NYSE:SNX)

LGT Fund Management Co Ltd. purchased a new stake in TD SYNNEX Corporation (NYSE:SNX) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 24,000 shares of the business services provider’s stock, valued at approximately $2,495,000.

A number of other hedge funds also recently made changes to their positions in SNX. Nuveen LLC acquired a new position in shares of TD SYNNEX in the 1st quarter valued at $121,259,000. Nuveen Asset Management LLC lifted its holdings in shares of TD SYNNEX by 343.2% during the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider’s stock valued at $141,913,000 after acquiring an additional 937,040 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of TD SYNNEX by 16.9% during the 1st quarter. JPMorgan Chase & Co. now owns 3,899,974 shares of the business services provider’s stock valued at $405,441,000 after acquiring an additional 564,473 shares in the last quarter. Brave Warrior Advisors LLC lifted its holdings in shares of TD SYNNEX by 12.2% during the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock valued at $486,380,000 after acquiring an additional 451,557 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of TD SYNNEX during the 4th quarter valued at $47,094,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $145.62 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $149.76. The firm has a 50-day simple moving average of $136.77 and a 200 day simple moving average of $128.02. The company has a market cap of $12.01 billion, a PE ratio of 17.01, a P/E/G ratio of 1.19 and a beta of 1.32.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.28. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The business had revenue of $14.95 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter in the prior year, the firm earned $2.73 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, July 11th. TD SYNNEX’s dividend payout ratio is currently 20.56%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SNX shares. JPMorgan Chase & Co. lifted their target price on shares of TD SYNNEX from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Wall Street Zen lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Barrington Research reaffirmed an “outperform” rating and set a $156.00 price target on shares of TD SYNNEX in a research note on Friday, July 11th. Loop Capital lifted their price target on shares of TD SYNNEX from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Finally, Bank of America lifted their price target on shares of TD SYNNEX from $156.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, TD SYNNEX presently has an average rating of “Moderate Buy” and an average target price of $149.30.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Alim Dhanji sold 1,257 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total transaction of $179,009.37. Following the completion of the transaction, the insider directly owned 10,984 shares of the company’s stock, valued at $1,564,231.44. The trade was a 10.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard T. Hume sold 63,310 shares of the business’s stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the transaction, the director directly owned 67,515 shares of the company’s stock, valued at $9,197,568.45. The trade was a 48.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,076 shares of company stock valued at $8,992,884 in the last quarter. Insiders own 1.00% of the company’s stock.

TD SYNNEX Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.