2,334 Shares in TD SYNNEX Corporation (NYSE:SNX) Purchased by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors has acquired 2,334 shares of TD SYNNEX Corporation, valued at approximately $243,000, according to their recent Form 13F filing.
• TD SYNNEX reported a quarterly earnings per share of $2.99, exceeding analysts' expectations of $2.71, with revenue up 7.2% year-over-year.
• TD SYNNEX announced a quarterly dividend of $0.44 per share, representing an annualized yield of 1.2% and a payout ratio of 20.56%.

Arkadios Wealth Advisors bought a new position in TD SYNNEX Corporation (NYSE:SNX - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 2,334 shares of the business services provider's stock, valued at approximately $243,000.

A number of other large investors also recently modified their holdings of the company. Brave Warrior Advisors LLC increased its position 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 purchasing an additional 451,557 shares during the last quarter. Ninety One UK Ltd increased its position in shares of TD SYNNEX by 8.5% during the 1st quarter. Ninety One UK Ltd now owns 2,565,191 shares of the business services provider's stock valued at $266,677,000 after purchasing an additional 200,628 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of TD SYNNEX by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,266,614 shares of the business services provider's stock valued at $265,826,000 after purchasing an additional 31,404 shares during the last quarter. LSV Asset Management increased its position in shares of TD SYNNEX by 46.9% during the 4th quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock valued at $201,235,000 after purchasing an additional 547,692 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in TD SYNNEX by 343.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider's stock worth $141,913,000 after acquiring an additional 937,040 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on SNX shares. Bank of America boosted their price objective 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. Barrington Research reissued an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a report on Friday, July 11th. Royal Bank Of Canada reissued an "outperform" rating and set a $145.00 price target on shares of TD SYNNEX in a research report on Wednesday, June 25th. JPMorgan Chase & Co. raised their target price on shares of TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, Loop Capital raised their price objective on shares of TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $149.30.

TD SYNNEX Stock Performance

Shares of SNX stock traded up $3.13 during trading on Friday, reaching $146.61. 419,759 shares of the company's stock were exchanged, compared to its average volume of 538,392. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $12.09 billion, a PE ratio of 17.13, a PEG ratio of 1.19 and a beta of 1.32. TD SYNNEX Corporation has a twelve month low of $92.23 and a twelve month high of $149.76. The firm's fifty day moving average price is $136.25 and its 200-day moving average price is $128.11.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, beating analysts' consensus estimates of $2.71 by $0.28. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The firm had revenue of $14.95 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same period in the prior year, the firm posted $2.73 EPS. The company's revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts anticipate that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a $0.44 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. TD SYNNEX's payout ratio is presently 20.56%.

Insider Buying and Selling at TD SYNNEX

In other news, Director Richard T. Hume sold 63,310 shares of the company's stock in a transaction on Friday, June 27th. The stock was 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. This represents a 48.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Marshall Witt sold 1,509 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the transaction, the chief financial officer owned 49,563 shares of the company's stock, valued at approximately $6,212,722.05. This trade represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,076 shares of company stock worth $8,992,884 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

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.