TD SYNNEX Corporation (NYSE:SNX) Shares Sold by Clark Estates Inc. NY

Key Points

• Clark Estates Inc. NY reduced its stake in TD SYNNEX Corporation by 27.6% in Q1, now owning 17,299 shares valued at approximately $1.8 million.
• TD SYNNEX reported earnings of $2.99 per share for the latest quarter, surpassing analysts' expectations, with revenue of $14.95 billion, a year-over-year increase of 7.2%.
• Wall Street analysts have given TD SYNNEX a consensus rating of "Moderate Buy", with an average price target of $149.30 for the stock.

Clark Estates Inc. NY reduced its stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 27.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,299 shares of the business services provider's stock after selling 6,605 shares during the quarter. Clark Estates Inc. NY's holdings in TD SYNNEX were worth $1,798,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNX. Commonwealth Equity Services LLC raised its stake in TD SYNNEX by 30.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,961 shares of the business services provider's stock worth $465,000 after acquiring an additional 923 shares in the last quarter. LPL Financial LLC increased its stake in TD SYNNEX by 15.0% in the fourth quarter. LPL Financial LLC now owns 15,680 shares of the business services provider's stock valued at $1,839,000 after purchasing an additional 2,050 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in TD SYNNEX by 131.7% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 34,152 shares of the business services provider's stock valued at $4,005,000 after purchasing an additional 19,412 shares during the period. Norges Bank acquired a new position in TD SYNNEX in the fourth quarter valued at $121,199,000. Finally, New Age Alpha Advisors LLC acquired a new position in TD SYNNEX in the fourth quarter valued at $79,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Price Performance

SNX traded down $3.81 on Friday, hitting $140.58. 604,202 shares of the company were exchanged, compared to its average volume of 538,445. 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 business's fifty day moving average is $134.20 and its 200 day moving average is $128.01. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $149.76. The firm has a market capitalization of $11.59 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 1.18 and a beta of 1.32.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, topping 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 company had revenue of $14.95 billion for 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 firm's revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given a $0.44 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.3%. TD SYNNEX's dividend payout ratio is currently 20.56%.

Analyst Upgrades and Downgrades

A number of research firms have commented on SNX. Royal Bank Of Canada restated an "outperform" rating and issued a $145.00 price objective on shares of TD SYNNEX in a research note on Wednesday, June 25th. Barclays set a $140.00 price objective on shares of TD SYNNEX in a research note on Tuesday, June 24th. Loop Capital boosted their price objective 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. Bank of America boosted their price objective on shares of TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley set a $155.00 price target on shares of TD SYNNEX and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $149.30.

Insider Activity

In other news, CFO Marshall Witt sold 1,509 shares of the 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alim Dhanji sold 1,257 shares of the stock in a transaction that occurred 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 in the company, valued at $1,564,231.44. This represents a 10.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,076 shares of company stock worth $8,992,884 over the last ninety days. 1.00% of the stock is currently owned by insiders.

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.