Friedenthal Financial Makes New $902,000 Investment in TD SYNNEX Corporation (NYSE:SNX)

Friedenthal Financial acquired a new position in TD SYNNEX Corporation (NYSE:SNX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,677 shares of the business services provider's stock, valued at approximately $902,000.

Several other institutional investors have also added to or reduced their stakes in SNX. Bessemer Group Inc. lifted its stake in TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after purchasing an additional 152 shares during the last quarter. Versant Capital Management Inc increased its position in shares of TD SYNNEX by 115.1% during the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock worth $36,000 after acquiring an additional 183 shares during the period. Blue Trust Inc. increased its position in shares of TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock worth $55,000 after acquiring an additional 129 shares during the period. Global Retirement Partners LLC increased its position in shares of TD SYNNEX by 31.9% during the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock worth $56,000 after acquiring an additional 116 shares during the period. Finally, Jones Financial Companies Lllp increased its position in shares of TD SYNNEX by 196.5% during the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider's stock worth $59,000 after acquiring an additional 336 shares during the period. Institutional investors own 84.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SNX shares. Barclays reduced their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. UBS Group reduced their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. The Goldman Sachs Group reduced their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Royal Bank Of Canada reduced their target price on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. cut their price objective on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $138.00.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $124.55 on Thursday. The business's fifty day simple moving average is $117.33 and its 200-day simple moving average is $123.94. The company has a market cap of $10.45 billion, a PE ratio of 15.55, a PEG ratio of 1.07 and a beta of 1.29. The company has a current ratio of 1.27, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. TD SYNNEX Corporation has a 12-month low of $92.23 and a 12-month high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). TD SYNNEX had a return on equity of 11.54% and a net margin of 1.16%. The business had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same period in the previous year, the company posted $2.99 earnings per share. The business's revenue for the quarter was up 4.0% on a year-over-year basis. Analysts expect that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Friday, April 11th. TD SYNNEX's dividend payout ratio (DPR) is presently 21.97%.

Insider Activity

In other news, insider Miriam Anne Murphy sold 3,000 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the sale, the insider now directly owns 14,883 shares of the company's stock, valued at $1,637,130. The trade was a 16.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company's stock.

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.

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