Cwm LLC Has $1.07 Million Stock Position in TD SYNNEX Corporation $SNX

Key Points

• Cwm LLC increased its stake in TD SYNNEX by 474% in Q4 to 7,095 shares worth $1.07 million, and institutional investors now own about 84% of the company.
• Insiders have been net sellers: CEO Patrick Zammit sold 13,900 shares and director Richard Hume sold 23,365 shares, with insiders disposing of 82,165 shares worth $13.56 million over the past 90 days (insiders now own ~0.70%).
• TD SYNNEX topped quarterly estimates with $4.73 EPS vs. $3.24 expected and revenue of $17.16 billion (+18.1% YoY); analysts have raised ratings and price targets (consensus "Moderate Buy," target ~$186.50) and the company declared a quarterly dividend of $0.48 (annual $1.92, yield ~0.9%).

Cwm LLC grew its stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 474.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,095 shares of the business services provider's stock after purchasing an additional 5,859 shares during the period. Cwm LLC's holdings in TD SYNNEX were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Ossiam raised its holdings in shares of TD SYNNEX by 84.3% during the third quarter. Ossiam now owns 164 shares of the business services provider's stock valued at $27,000 after purchasing an additional 75 shares during the period. Dorato Capital Management acquired a new position in shares of TD SYNNEX during the fourth quarter valued at about $27,000. Measured Wealth Private Client Group LLC acquired a new position in shares of TD SYNNEX during the third quarter valued at about $30,000. Brown Brothers Harriman & Co. raised its holdings in shares of TD SYNNEX by 675.9% during the third quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider's stock valued at $37,000 after purchasing an additional 196 shares during the period. Finally, Root Financial Partners LLC acquired a new stake in shares of TD SYNNEX in the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 84.00% of the company's stock.

Insiders Place Their Bets

In other TD SYNNEX news, CEO Patrick Zammit sold 13,900 shares of the company's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $171.57, for a total value of $2,384,823.00. Following the completion of the sale, the chief executive officer directly owned 170,928 shares of the company's stock, valued at approximately $29,326,116.96. This represents a 7.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard T. Hume sold 23,365 shares of the company's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $160.63, for a total transaction of $3,753,119.95. Following the completion of the sale, the director directly owned 42,515 shares of the company's stock, valued at $6,829,184.45. The trade was a 35.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 82,165 shares of company stock worth $13,559,368 in the last ninety days. 0.70% of the stock is owned by corporate insiders.

TD SYNNEX Trading Down 0.8%

SNX opened at $225.81 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. TD SYNNEX Corporation has a fifty-two week low of $108.19 and a fifty-two week high of $229.47. The firm has a market capitalization of $18.15 billion, a PE ratio of 18.77, a P/E/G ratio of 1.15 and a beta of 1.23. The company's 50-day moving average is $176.30 and its 200 day moving average is $161.92.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.24 by $1.49. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The business had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $15.59 billion. During the same period in the prior year, the firm posted $2.80 EPS. The firm's quarterly revenue was up 18.1% compared to the same quarter last year. As a group, research analysts predict that TD SYNNEX Corporation will post 15.69 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 15th. TD SYNNEX's dividend payout ratio is presently 15.96%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of TD SYNNEX from $180.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Wall Street Zen upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Royal Bank Of Canada upped their target price on shares of TD SYNNEX from $180.00 to $210.00 and gave the stock an "outperform" rating in a report on Wednesday, April 1st. Zacks Research upgraded shares of TD SYNNEX from a "hold" rating to a "strong-buy" rating in a report on Monday, April 6th. Finally, Barrington Research restated an "outperform" rating and issued a $182.00 target price on shares of TD SYNNEX in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $186.50.

TD SYNNEX Company Profile

TD SYNNEX NYSE: SNX is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company's core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.

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