DekaBank Deutsche Girozentrale Buys 17,405 Shares of TD SYNNEX Corporation (NYSE:SNX)

DekaBank Deutsche Girozentrale boosted its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 202.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,000 shares of the business services provider's stock after buying an additional 17,405 shares during the period. DekaBank Deutsche Girozentrale's holdings in TD SYNNEX were worth $2,668,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its holdings in shares of TD SYNNEX by 9.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock valued at $125,000 after acquiring an additional 90 shares in the last quarter. Ellevest Inc. grew its position in TD SYNNEX by 3.9% in the 4th quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock valued at $280,000 after purchasing an additional 90 shares during the period. Crossmark Global Holdings Inc. increased its stake in TD SYNNEX by 1.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 6,063 shares of the business services provider's stock valued at $630,000 after purchasing an additional 94 shares in the last quarter. Utah Retirement Systems raised its holdings in TD SYNNEX by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock worth $481,000 after buying an additional 100 shares during the last quarter. Finally, Amundi lifted its stake in shares of TD SYNNEX by 22.3% in the fourth quarter. Amundi now owns 560 shares of the business services provider's stock valued at $66,000 after buying an additional 102 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,000 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the transaction, the insider owned 14,883 shares in the company, valued at $1,637,130. This trade represents a 16.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard T. Hume sold 63,310 shares of the business's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the completion of the sale, the director directly owned 67,515 shares in the company, valued at approximately $9,197,568.45. This trade represents a 48.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,819 shares of company stock valued at $9,143,874. 1.00% of the stock is owned by insiders.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $141.66 on Friday. The company has a market capitalization of $11.68 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 1.17 and a beta of 1.30. The company's 50-day moving average is $127.26 and its 200 day moving average is $125.76. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.26. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, beating analysts' consensus estimates of $2.71 by $0.28. The firm had revenue of $14.95 billion during the quarter, compared to the consensus estimate of $14.30 billion. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The company's revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.73 EPS. On average, equities research analysts forecast that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SNX shares. Barrington Research restated an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a report on Friday. Loop Capital increased their price objective on TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Morgan Stanley set a $155.00 target price on TD SYNNEX and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Barclays set a $140.00 price target on TD SYNNEX in a research report on Tuesday, June 24th. Finally, Cfra cut their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.

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