Alps Advisors Inc. Raises Position in TD SYNNEX Corporation (NYSE:SNX)

Alps Advisors Inc. boosted its holdings in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 7.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,349 shares of the business services provider's stock after acquiring an additional 9,577 shares during the quarter. Alps Advisors Inc. owned 0.16% of TD SYNNEX worth $13,863,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Bessemer Group Inc. increased its position in shares of TD SYNNEX by 174.7% during the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. Versant Capital Management Inc increased its position in shares of TD SYNNEX by 115.1% during the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock valued at $36,000 after purchasing an additional 183 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of TD SYNNEX by 196.5% during the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider's stock valued at $59,000 after purchasing an additional 336 shares during the last quarter. Amundi increased its position in shares of TD SYNNEX by 22.3% during the 4th quarter. Amundi now owns 560 shares of the business services provider's stock valued at $66,000 after purchasing an additional 102 shares during the last quarter. Finally, State of Wyoming increased its position in shares of TD SYNNEX by 51.9% during the 4th 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 during the last quarter. 84.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other TD SYNNEX news, CFO Marshall Witt sold 1,509 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was 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 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 Securities & Exchange Commission, which is available at the SEC website. Also, insider Miriam Anne Murphy sold 3,000 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the sale, the insider owned 14,883 shares of the company's stock, valued at approximately $1,637,130. This represents a 16.78% decrease in their position. 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 90 days. Company insiders own 1.00% of the company's stock.

TD SYNNEX Stock Performance

NYSE:SNX traded up $0.14 during mid-day trading on Monday, hitting $141.93. 809,229 shares of the company traded hands, compared to its average volume of 851,436. The stock's fifty day moving average price is $127.26 and its 200-day moving average price is $125.80. TD SYNNEX Corporation has a one year low of $92.23 and a one year high of $145.10. 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 firm has a market cap of $11.70 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 1.17 and a beta of 1.30.

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 the consensus estimate of $2.71 by $0.28. The business had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The business's revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.73 earnings per share. Research analysts anticipate that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.24%. TD SYNNEX's dividend payout ratio is currently 20.56%.

Wall Street Analysts Forecast Growth

SNX has been the topic of several recent research reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $145.00 price objective on shares of TD SYNNEX in a research report on Wednesday, June 25th. Morgan Stanley set a $155.00 price target on TD SYNNEX and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. UBS Group reduced their price target on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Cfra reduced their price target on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Finally, Barrington Research restated an "outperform" rating and set a $156.00 price target on shares of TD SYNNEX in a research report on Friday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.56.

About TD SYNNEX

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.