Natixis Advisors LLC Decreases Stake in TD SYNNEX Corporation $SNX

Natixis Advisors LLC decreased its position in TD SYNNEX Corporation (NYSE:SNX) by 31.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 51,613 shares of the business services provider’s stock after selling 23,153 shares during the period. Natixis Advisors LLC’s holdings in TD SYNNEX were worth $7,753,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Concentric Capital Strategies LP bought a new position in shares of TD SYNNEX during the 3rd quarter valued at approximately $18,036,000. Envestnet Asset Management Inc. grew its position in shares of TD SYNNEX by 11.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 82,977 shares of the business services provider’s stock valued at $13,587,000 after acquiring an additional 8,264 shares during the period. Fieldview Capital Management LLC bought a new position in shares of TD SYNNEX during the 3rd quarter valued at approximately $1,318,000. Citigroup Inc. grew its position in shares of TD SYNNEX by 12.0% during the 3rd quarter. Citigroup Inc. now owns 83,103 shares of the business services provider’s stock valued at $13,608,000 after acquiring an additional 8,914 shares during the period. Finally, Algert Global LLC bought a new position in shares of TD SYNNEX during the 3rd quarter valued at approximately $7,140,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Down 0.2%

Shares of NYSE:SNX opened at $268.25 on Monday. The firm has a fifty day moving average price of $222.16 and a two-hundred day moving average price of $178.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. TD SYNNEX Corporation has a one year low of $121.50 and a one year high of $286.25. The company has a market cap of $21.56 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 1.16 and a beta of 1.43.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, beating the consensus estimate of $3.24 by $1.49. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The firm had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $15.59 billion. During the same period last year, the firm earned $2.80 EPS. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Analysts anticipate that TD SYNNEX Corporation will post 15.88 EPS 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 15.96%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 target price for the company in a research report on Wednesday, May 27th. Barrington Research reissued an “outperform” rating and set a $182.00 target price on shares of TD SYNNEX in a research report on Friday, March 27th. Morgan Stanley raised their price objective on shares of TD SYNNEX from $172.00 to $174.00 and gave the stock an “overweight” rating in a report on Friday, March 20th. The Goldman Sachs Group raised their price objective on shares of TD SYNNEX from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Zacks Research downgraded shares of TD SYNNEX from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $212.60.

Insider Activity

In other news, insider Miriam Anne Murphy sold 3,025 shares of the firm’s 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 sale, the insider owned 10,820 shares in the company, valued at approximately $2,165,514.80. This trade represents a 21.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David Gregory Jordan sold 3,225 shares of the firm’s stock in a transaction 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. This trade represents a 18.68% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 21,250 shares of company stock worth $4,935,282. 0.70% of the stock is currently owned by corporate 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.