Fox Run Management L.L.C. Takes Position in TD SYNNEX Corporation $SNX

Key Points

• Fox Run Management L.L.C. invested approximately $1.37 million in TD SYNNEX Corporation by acquiring 13,140 shares during the first quarter.
• Director Richard T. Hume sold 63,310 shares of TD SYNNEX for over $8.6 million, significantly reducing his ownership stake in the company.
• Analysts have mixed views on TD SYNNEX, with three maintaining a "hold" rating and eight assigning a "buy" rating, indicating a generally positive outlook for the stock.

Fox Run Management L.L.C. purchased a new position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,140 shares of the business services provider's stock, valued at approximately $1,366,000.

Other large investors have also made changes to their positions in the company. Cookson Peirce & Co. Inc. raised its stake in TD SYNNEX by 11.0% during the first quarter. Cookson Peirce & Co. Inc. now owns 47,886 shares of the business services provider's stock worth $4,978,000 after acquiring an additional 4,734 shares in the last quarter. Boston Partners grew its position in shares of TD SYNNEX by 321.6% during the first quarter. Boston Partners now owns 591,958 shares of the business services provider's stock worth $61,547,000 after purchasing an additional 451,567 shares in the last quarter. LGT Fund Management Co Ltd. purchased a new position in shares of TD SYNNEX in the 1st quarter valued at $2,495,000. Russell Investments Group Ltd. grew its stake in TD SYNNEX by 84.3% during the 1st quarter. Russell Investments Group Ltd. now owns 64,012 shares of the business services provider's stock valued at $6,655,000 after purchasing an additional 29,278 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of TD SYNNEX by 1.1% in the first quarter. HighTower Advisors LLC now owns 109,127 shares of the business services provider's stock valued at $11,345,000 after purchasing an additional 1,170 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Insider Buying and Selling

In other news, Director Richard T. Hume sold 63,310 shares of the stock in a transaction on Friday, June 27th. The stock was 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 owned 67,515 shares in the company, valued at approximately $9,197,568.45. This represents a 48.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Marshall Witt sold 1,509 shares of TD SYNNEX stock in a transaction dated 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 of the company's stock, valued at approximately $6,212,722.05. This represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,888 shares of company stock valued at $9,115,025. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

SNX has been the topic of a number of research analyst reports. Morgan Stanley set a $155.00 target price on TD SYNNEX and gave the company an "overweight" rating in a report on Wednesday, June 25th. Barrington Research restated an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a research report on Friday, July 11th. Loop Capital lifted their target price on shares of TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Barclays set a $140.00 price objective on shares of TD SYNNEX in a report on Tuesday, June 24th. Finally, Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Saturday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, TD SYNNEX presently has a consensus rating of "Moderate Buy" and an average price target of $149.30.

TD SYNNEX Price Performance

Shares of NYSE:SNX traded down $3.49 on Friday, hitting $147.40. The stock had a trading volume of 743,874 shares, compared to its average volume of 552,303. The firm's 50 day moving average price is $139.01 and its 200-day moving average price is $128.28. TD SYNNEX Corporation has a twelve month low of $92.23 and a twelve month high of $153.70. 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 company has a market capitalization of $12.16 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.20 and a beta of 1.32.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $14.95 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same period in the previous year, the firm earned $2.73 earnings per share. The company's revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts predict that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, July 11th. TD SYNNEX's payout ratio is presently 20.56%.

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.