Asset Management One Co. Ltd. Takes Position in TD SYNNEX Corporation (NYSE:SNX)

Asset Management One Co. Ltd. bought a new stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,447 shares of the business services provider's stock, valued at approximately $982,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC raised its holdings in TD SYNNEX by 20.1% during the 4th quarter. Barclays PLC now owns 97,617 shares of the business services provider's stock valued at $11,448,000 after acquiring an additional 16,310 shares during the period. Proficio Capital Partners LLC bought a new stake in TD SYNNEX during the 4th quarter valued at $5,158,000. Sei Investments Co. raised its holdings in TD SYNNEX by 25.5% during the 4th quarter. Sei Investments Co. now owns 70,745 shares of the business services provider's stock valued at $8,297,000 after acquiring an additional 14,379 shares during the period. IFP Advisors Inc raised its holdings in TD SYNNEX by 976.6% during the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider's stock valued at $119,000 after acquiring an additional 918 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in TD SYNNEX by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider's stock valued at $59,512,000 after acquiring an additional 9,915 shares during the period. Institutional investors own 84.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Loop Capital boosted their target price on shares of TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a report on Monday. Barclays set a $140.00 price target on shares of TD SYNNEX in a research report on Tuesday, June 24th. JPMorgan Chase & Co. reduced their price target on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Cfra reduced their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Finally, The Goldman Sachs Group cut their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.56.

TD SYNNEX Price Performance

NYSE:SNX traded up $0.93 during midday trading on Friday, hitting $140.21. The company had a trading volume of 680,142 shares, compared to its average volume of 745,780. The stock's fifty day moving average price is $124.32 and its 200-day moving average price is $124.90. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. TD SYNNEX Corporation has a 52-week low of $92.23 and a 52-week high of $145.10. The company has a market capitalization of $11.56 billion, a PE ratio of 16.38, a P/E/G ratio of 1.16 and a beta of 1.30.

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

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 1.26%. TD SYNNEX's payout ratio is 20.56%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,509 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total transaction of $189,153.15. Following the completion of the sale, the chief financial officer directly owned 49,563 shares in the company, valued at $6,212,722.05. This represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Miriam Anne Murphy sold 3,000 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the insider directly owned 14,883 shares of the company's stock, valued at approximately $1,637,130. This trade represents a 16.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,819 shares of company stock worth $9,143,874 over the last three months. Company insiders own 1.00% of the company's stock.

TD SYNNEX Company 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.