Havemeyer Place LP Takes $1.67 Million Position in TD SYNNEX Corporation $SNX

Key Points

• Havemeyer Place LP initiated a new position in TD SYNNEX during the fourth quarter, buying 11,118 shares valued at about $1.67 million.
• TD SYNNEX reported strong quarterly results, with EPS of $4.73 beating estimates and revenue of $17.16 billion topping expectations, up 18.1% year over year.
• The stock has attracted mixed signals from insiders and analysts: a director and the CFO sold shares recently, while Wall Street’s consensus rating remains Moderate Buy with a $212.60 price target.

Havemeyer Place LP bought a new stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,118 shares of the business services provider's stock, valued at approximately $1,670,000.

Other large investors have also recently modified their holdings of the company. Concentric Capital Strategies LP bought a new position in shares of TD SYNNEX during the 3rd quarter valued at approximately $18,036,000. Envestnet Asset Management Inc. grew its position in TD SYNNEX by 11.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 82,977 shares of the business services provider's stock valued at $13,587,000 after acquiring an additional 8,264 shares during the last quarter. Fieldview Capital Management LLC bought a new position in TD SYNNEX in the 3rd quarter valued at $1,318,000. Citigroup Inc. grew its position in TD SYNNEX by 12.0% in the 3rd quarter. Citigroup Inc. now owns 83,103 shares of the business services provider's stock valued at $13,608,000 after acquiring an additional 8,914 shares during the last quarter. Finally, Algert Global LLC bought a new position in TD SYNNEX in the 3rd quarter valued at $7,140,000. Institutional investors own 84.00% of the company's stock.

TD SYNNEX Price Performance

SNX opened at $268.25 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $21.56 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 1.16 and a beta of 1.43. TD SYNNEX Corporation has a 12-month low of $121.50 and a 12-month high of $286.25. The business's fifty day simple moving average is $222.16 and its 200-day simple moving average is $178.64.

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 for the quarter, topping analysts' consensus estimates of $3.24 by $1.49. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The firm had revenue of $17.16 billion during the quarter, compared to analysts' expectations of $15.59 billion. During the same period in the prior year, the business posted $2.80 EPS. The firm's quarterly revenue was up 18.1% on a year-over-year basis. On average, equities research analysts anticipate that TD SYNNEX Corporation will post 15.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, April 15th. TD SYNNEX's dividend payout ratio (DPR) is presently 15.96%.

Insider Transactions at TD SYNNEX

In other news, Director Richard T. Hume sold 5,000 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $280.38, for a total value of $1,401,900.00. Following the completion of the transaction, the director directly owned 23,537 shares in the company, valued at $6,599,304.06. This trade represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Gregory Jordan sold 3,225 shares of the firm's stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $189.46, for a total value of $611,008.50. Following the completion of the transaction, the chief financial officer owned 14,035 shares of the company's stock, valued at approximately $2,659,071.10. The trade was a 18.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 21,250 shares of company stock worth $4,935,282 over the last three months. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SNX has been the topic of several research analyst reports. Zacks Research downgraded TD SYNNEX from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 1st. JPMorgan Chase & Co. raised TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 price objective on the stock in a research report on Wednesday, May 27th. Barrington Research reaffirmed an "outperform" rating and issued a $182.00 price objective on shares of TD SYNNEX in a research report on Friday, March 27th. The Goldman Sachs Group upped their price objective on TD SYNNEX from $180.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. Finally, Wall Street Zen raised TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $212.60.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.