Kesler Norman & Wride LLC Has $1.28 Million Stake in TD SYNNEX Corporation $SNX

Kesler Norman & Wride LLC lifted its position in TD SYNNEX Corporation (NYSE:SNX) by 34.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,520 shares of the business services provider’s stock after acquiring an additional 2,165 shares during the period. Kesler Norman & Wride LLC’s holdings in TD SYNNEX were worth $1,280,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Ossiam raised its stake in shares of TD SYNNEX by 84.3% in the third quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Dorato Capital Management acquired a new position in shares of TD SYNNEX in the fourth quarter valued at $27,000. Measured Wealth Private Client Group LLC acquired a new position in shares of TD SYNNEX in the third quarter valued at $30,000. Lloyd Advisory Services LLC. acquired a new position in shares of TD SYNNEX in the fourth quarter valued at $32,000. Finally, Brown Brothers Harriman & Co. raised its stake 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 valued at $37,000 after purchasing an additional 196 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO David Gregory Jordan sold 3,225 shares of TD SYNNEX stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $189.46, for a total value of $611,008.50. Following the sale, the chief financial officer owned 14,035 shares of the company’s stock, valued at approximately $2,659,071.10. This trade represents a 18.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $229.54, for a total value of $1,147,700.00. Following the completion of the sale, the director directly owned 28,537 shares in the company, valued at approximately $6,550,382.98. This represents a 14.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,250 shares of company stock worth $3,533,382 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SNX shares. Wall Street Zen upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of TD SYNNEX in a research note on Monday, May 4th. Barclays increased their price objective on TD SYNNEX from $166.00 to $237.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Morgan Stanley increased their price objective on TD SYNNEX from $172.00 to $174.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. Finally, Barrington Research reiterated an “outperform” rating and set a $182.00 price objective on shares of TD SYNNEX in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, TD SYNNEX has a consensus rating of “Buy” and a consensus target price of $212.60.

TD SYNNEX Stock Performance

Shares of NYSE:SNX opened at $279.67 on Wednesday. TD SYNNEX Corporation has a twelve month low of $118.90 and a twelve month high of $286.25. The firm has a market cap of $22.48 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 1.17 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 business has a fifty day moving average of $212.80 and a 200-day moving average of $175.31.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $1.49. The firm 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%.The company’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the company earned $2.80 earnings per share. On average, equities research analysts predict that TD SYNNEX Corporation will post 15.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.48 per share. The ex-dividend date 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 (DPR) is 15.96%.

TD SYNNEX 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.