AIA Group Ltd Has $1.03 Million Stock Holdings in TD SYNNEX Corporation (NYSE:SNX)

Key Points

• AIA Group Ltd increased its holdings in TD SYNNEX Corporation by 25.9% in the first quarter, owning shares valued at $1.03 million following the purchase of additional shares.
• TD SYNNEX reported $2.99 EPS for the last quarter, surpassing analysts' expectations of $2.71, with revenues of $14.95 billion, a 7.2% increase from the previous year.
• The company declared a quarterly dividend of $0.44 per share, resulting in a 1.2% yield with a low payout ratio of 20.56%.

AIA Group Ltd boosted its position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 25.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,923 shares of the business services provider's stock after acquiring an additional 2,041 shares during the period. AIA Group Ltd's holdings in TD SYNNEX were worth $1,032,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNX. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in TD SYNNEX by 329.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock valued at $25,000 after acquiring an additional 188 shares during the period. Bessemer Group Inc. increased its stake in TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after acquiring an additional 152 shares during the period. Versant Capital Management Inc increased its stake in TD SYNNEX by 115.1% during the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock valued at $36,000 after acquiring an additional 183 shares during the period. Cullen Frost Bankers Inc. bought a new position in TD SYNNEX during the first quarter valued at about $44,000. Finally, State of Wyoming boosted its holdings in TD SYNNEX by 51.9% during the fourth quarter. State of Wyoming now owns 594 shares of the business services provider's stock valued at $70,000 after purchasing an additional 203 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $145.00 price objective on shares of TD SYNNEX in a report on Wednesday, June 25th. Barrington Research reaffirmed an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a report on Friday, July 11th. Loop Capital lifted their price objective on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a report on Monday, June 30th. Wall Street Zen downgraded TD SYNNEX from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Morgan Stanley set a $155.00 price objective on TD SYNNEX and gave the company an "overweight" rating in a report on Wednesday, June 25th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, TD SYNNEX presently has a consensus rating of "Moderate Buy" and an average target price of $149.30.

TD SYNNEX Trading Down 1.8%

SNX traded down $2.69 during mid-day trading on Thursday, reaching $150.89. The stock had a trading volume of 613,838 shares, compared to its average volume of 804,371. The stock has a market capitalization of $12.44 billion, a P/E ratio of 17.63, a P/E/G ratio of 1.23 and a beta of 1.32. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.26. The firm's fifty day simple moving average is $137.94 and its two-hundred day simple moving average is $128.35. TD SYNNEX Corporation has a 52 week low of $92.23 and a 52 week high of $153.70.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced 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. The firm had revenue of $14.95 billion for the quarter, compared to analyst estimates of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The business's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $2.73 EPS. On average, equities analysts predict that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. TD SYNNEX's payout ratio is currently 20.56%.

Insider Activity

In related news, CFO Marshall Witt sold 1,509 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the sale, the chief financial officer owned 49,563 shares in the company, valued at $6,212,722.05. This represents a 2.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alim Dhanji sold 1,257 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total transaction of $179,009.37. Following the completion of the sale, the insider owned 10,984 shares of the company's stock, valued at approximately $1,564,231.44. This represents a 10.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,888 shares of company stock worth $9,115,025 in the last ninety days. Company insiders own 1.00% of the company's stock.

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.