Brown Advisory Inc. Increases Stock Position in TD SYNNEX Corporation (NYSE:SNX)

Brown Advisory Inc. increased its stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 28.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,374 shares of the business services provider's stock after buying an additional 23,121 shares during the period. Brown Advisory Inc. owned 0.12% of TD SYNNEX worth $10,747,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SNX. Norges Bank bought a new position in shares of TD SYNNEX in the 4th quarter worth $121,199,000. Nuveen Asset Management LLC lifted its position 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 valued at $141,913,000 after acquiring an additional 937,040 shares in the last quarter. LSV Asset Management lifted its holdings in shares of TD SYNNEX by 46.9% in the fourth 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 in the last quarter. Brave Warrior Advisors LLC grew its stake 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 worth $486,380,000 after acquiring an additional 451,557 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in TD SYNNEX in the 4th quarter valued at $47,094,000. 84.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SNX has been the subject of a number of recent analyst reports. Barrington Research reiterated an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a research note on Friday. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $145.00 price target on shares of TD SYNNEX in a report on Wednesday, June 25th. Morgan Stanley set a $155.00 price objective on shares of TD SYNNEX and gave the company an "overweight" rating in a report on Wednesday, June 25th. 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 note on Friday, March 28th. Finally, Loop Capital upped their price target 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. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $142.56.

Insiders Place Their Bets

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,000 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the transaction, the insider directly owned 14,883 shares in the company, valued at $1,637,130. The trade was a 16.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Witt sold 1,509 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer owned 49,563 shares in the company, valued at approximately $6,212,722.05. The trade was a 2.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,819 shares of company stock valued at $9,143,874. Corporate insiders own 1.00% of the company's stock.

TD SYNNEX Trading Down 0.5%

Shares of TD SYNNEX stock traded down $0.72 during midday trading on Friday, reaching $141.66. The company had a trading volume of 529,876 shares, compared to its average volume of 734,937. The stock has a fifty day moving average price of $126.71 and a 200 day moving average price of $125.56. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The firm has a market cap of $11.68 billion, a PE ratio of 12.81, a P/E/G ratio of 1.17 and a beta of 1.30. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its earnings results on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, topping the consensus estimate of $2.71 by $0.28. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The business had revenue of $14.95 billion during the quarter, compared to analysts' expectations of $14.30 billion. During the same quarter last year, the firm posted $2.73 earnings per share. The firm's revenue was up 7.2% on a year-over-year basis. On average, equities analysts anticipate 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. Investors of record on Friday, July 11th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 1.24%. TD SYNNEX's payout ratio is 20.56%.

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.