TD SYNNEX Corporation $SNX Shares Sold by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC lowered its stake in TD SYNNEX Corporation (NYSE:SNX) by 4.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 351,233 shares of the business services provider’s stock after selling 15,664 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in TD SYNNEX were worth $52,766,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its position in TD SYNNEX by 7.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 992,779 shares of the business services provider’s stock worth $162,568,000 after acquiring an additional 71,249 shares during the period. Concentric Capital Strategies LP acquired a new position in shares of TD SYNNEX in the third quarter valued at about $18,036,000. Envestnet Asset Management Inc. raised its stake in shares of TD SYNNEX by 11.1% in the third quarter. Envestnet Asset Management Inc. now owns 82,977 shares of the business services provider’s stock worth $13,587,000 after purchasing an additional 8,264 shares during the last quarter. Fieldview Capital Management LLC acquired a new stake in shares of TD SYNNEX during the third quarter worth about $1,318,000. Finally, Citigroup Inc. lifted its holdings in shares of TD SYNNEX by 12.0% during the third quarter. Citigroup Inc. now owns 83,103 shares of the business services provider’s stock worth $13,608,000 after purchasing an additional 8,914 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Stock Performance

Shares of NYSE SNX opened at $260.46 on Monday. The company has a market capitalization of $20.94 billion, a PE 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 company’s fifty day moving average price is $210.50 and its 200 day moving average price is $174.46. TD SYNNEX Corporation has a 1 year low of $118.35 and a 1 year high of $264.81.

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, topping analysts’ consensus estimates of $3.24 by $1.49. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The business had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $15.59 billion. During the same quarter in the prior year, the firm posted $2.80 earnings per share. The company’s revenue was up 18.1% compared to the same quarter last year. On average, research analysts predict that TD SYNNEX Corporation will post 15.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Investors 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 dividend on an annualized basis and a yield of 0.7%. TD SYNNEX’s dividend payout ratio is presently 15.96%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SNX. JPMorgan Chase & Co. upgraded shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price target on the stock in a report on Wednesday, May 27th. Zacks Research upgraded shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TD SYNNEX in a report on Monday, May 4th. Barrington Research reiterated an “outperform” rating and issued a $182.00 price objective on shares of TD SYNNEX in a research note on Friday, March 27th. Finally, UBS Group raised their target price on shares of TD SYNNEX from $193.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $212.60.

Insiders Place Their Bets

In other news, insider Miriam Anne Murphy sold 3,025 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was 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 represents a 21.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Merline Saintil sold 167 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $157.75, for a total value of $26,344.25. Following the transaction, the director owned 6,995 shares in the company, valued at $1,103,461.25. This trade represents a 2.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 16,417 shares of company stock worth $3,559,726. Company insiders own 0.70% of the company’s stock.

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.