Illinois Municipal Retirement Fund reduced its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 6.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,901 shares of the business services provider's stock after selling 2,771 shares during the period. Illinois Municipal Retirement Fund's holdings in TD SYNNEX were worth $4,148,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the business. Barclays PLC increased its holdings in shares of TD SYNNEX by 20.1% during the fourth quarter. Barclays PLC now owns 97,617 shares of the business services provider's stock valued at $11,448,000 after acquiring an additional 16,310 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in TD SYNNEX during the 4th quarter valued at about $5,158,000. Sei Investments Co. lifted its holdings in shares of TD SYNNEX by 25.5% during the fourth quarter. Sei Investments Co. now owns 70,745 shares of the business services provider's stock worth $8,297,000 after purchasing an additional 14,379 shares during the period. IFP Advisors Inc lifted its stake in TD SYNNEX by 976.6% during the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider's stock valued at $119,000 after acquiring an additional 918 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of TD SYNNEX by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider's stock valued at $59,512,000 after acquiring an additional 9,915 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
SNX has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Royal Bank Of Canada reiterated an "outperform" rating and set a $145.00 price objective on shares of TD SYNNEX in a research note on Wednesday, June 25th. Morgan Stanley set a $155.00 target price on TD SYNNEX and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Loop Capital boosted their price target on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a report on Monday. Finally, UBS Group dropped their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, TD SYNNEX has a consensus rating of "Moderate Buy" and a consensus price target of $142.56.
Check Out Our Latest Analysis on TD SYNNEX
TD SYNNEX Price Performance
NYSE:SNX traded up $2.52 during trading hours on Wednesday, reaching $138.34. 703,318 shares of the company were exchanged, compared to its average volume of 742,449. The stock's 50-day moving average is $122.51 and its 200-day moving average is $124.55. TD SYNNEX Corporation has a twelve month low of $92.23 and a twelve month high of $145.10. The firm has a market cap of $11.61 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 1.12 and a beta of 1.30. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45.
TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, topping the consensus estimate of $2.71 by $0.28. The company had revenue of $14.95 billion during the quarter, compared to analyst estimates of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. TD SYNNEX's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.73 EPS. On average, sell-side analysts anticipate that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.
TD SYNNEX Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Friday, July 11th. TD SYNNEX's payout ratio is 20.56%.
Insider Activity
In related news, CFO Marshall Witt sold 1,509 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the sale, the chief financial officer owned 49,563 shares of the company's stock, valued at approximately $6,212,722.05. This trade represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Miriam Anne Murphy sold 3,000 shares of the business's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the transaction, the insider directly owned 14,883 shares in the company, valued at $1,637,130. This trade represents a 16.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,819 shares of company stock worth $9,143,874 over the last three months. Insiders own 1.00% of the company's stock.
TD SYNNEX Company Profile
(
Free Report)
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.
Further Reading
Before you consider TD SYNNEX, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TD SYNNEX wasn't on the list.
While TD SYNNEX currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
