8,276 Shares in TD SYNNEX Corporation $SNX Purchased by Fisher Asset Management LLC

Key Points

• Fisher Asset Management opened a new position in TD SYNNEX during the fourth quarter, buying 8,276 shares valued at about $1.243 million. The filing also shows institutional ownership remains heavy, with hedge funds and institutions holding 84% of the stock.
• TD SYNNEX posted better-than-expected quarterly results, with EPS of $4.73 versus estimates of $3.24 and revenue of $17.16 billion versus $15.59 billion expected. Revenue rose 18.1% year over year, and analysts still see strong full-year earnings of 15.88 per share.
• The stock has climbed sharply, recently opening at $260.46 and trading near its 52-week high of $264.81. Analysts remain constructive overall, with a consensus Buy rating and average price target of $212.60, while the company also paid a quarterly dividend of $0.48 per share.

Fisher Asset Management LLC bought a new position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,276 shares of the business services provider's stock, valued at approximately $1,243,000.

A number of other hedge funds have also recently bought and sold shares of the company. Cornerstone Wealth Management LLC grew its holdings in TD SYNNEX by 3.8% during the third quarter. Cornerstone Wealth Management LLC now owns 1,895 shares of the business services provider's stock worth $310,000 after acquiring an additional 69 shares during the period. Ashton Thomas Private Wealth LLC boosted its position in shares of TD SYNNEX by 3.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 2,107 shares of the business services provider's stock valued at $317,000 after purchasing an additional 71 shares during the period. Jones Financial Companies Lllp boosted its position in shares of TD SYNNEX by 10.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 775 shares of the business services provider's stock valued at $127,000 after purchasing an additional 74 shares during the period. Ossiam boosted its position in shares of TD SYNNEX by 84.3% in the 3rd quarter. Ossiam now owns 164 shares of the business services provider's stock valued at $27,000 after purchasing an additional 75 shares during the period. Finally, BTC Capital Management Inc. boosted its position in shares of TD SYNNEX by 3.1% in the 3rd quarter. BTC Capital Management Inc. now owns 2,996 shares of the business services provider's stock valued at $491,000 after purchasing an additional 91 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Stock Up 5.8%

Shares of TD SYNNEX stock opened at $260.46 on Friday. The firm has a market cap of $20.94 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 1.06 and a beta of 1.40. 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 52-week low of $118.35 and a 52-week high of $264.81. The stock has a 50-day simple moving average of $210.50 and a 200-day simple moving average of $174.32.

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

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, April 15th. TD SYNNEX's payout ratio is currently 15.96%.

Insider Transactions at TD SYNNEX

In related news, Director Merline Saintil sold 167 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $157.75, for a total value of $26,344.25. Following the transaction, the director directly owned 6,995 shares of the company's stock, valued at approximately $1,103,461.25. This trade represents a 2.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Miriam Anne Murphy sold 3,025 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $200.14, for a total value of $605,423.50. Following the completion of the transaction, the insider directly owned 10,820 shares in the company, valued at $2,165,514.80. The trade was a 21.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,417 shares of company stock valued at $3,559,726 in the last quarter. Corporate insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of TD SYNNEX in a research report on Monday, May 4th. The Goldman Sachs Group increased their price target on TD SYNNEX from $180.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. Zacks Research upgraded TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 6th. Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Finally, Morgan Stanley increased their price target on TD SYNNEX from $172.00 to $174.00 and gave the company an "overweight" rating in a research report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, TD SYNNEX has a consensus rating of "Buy" and a consensus price target of $212.60.

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.

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