Jefferies Financial Group Inc. Acquires Shares of 2,347 TD SYNNEX Corporation (NYSE:SNX)

Key Points

• Jefferies Financial Group Inc. acquired a new stake in TD SYNNEX Corporation, purchasing 2,347 shares valued at approximately $244,000 in the first quarter.
• TD SYNNEX reported earnings of $2.99 per share, surpassing estimates, and generated $14.95 billion in quarterly revenue, reflecting a 7.2% increase year-over-year.
• The company recently declared a quarterly dividend of $0.44 per share, marking an annual yield of 1.2%, with a dividend payout ratio of 20.56%.

Jefferies Financial Group Inc. purchased a new stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,347 shares of the business services provider's stock, valued at approximately $244,000.

Several other large investors have also recently bought and sold shares of the business. Brave Warrior Advisors LLC grew its stake in TD SYNNEX by 12.2% during the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider's stock valued at $486,380,000 after purchasing an additional 451,557 shares in the last quarter. Ninety One UK Ltd boosted its position in TD SYNNEX by 8.5% during the 1st quarter. Ninety One UK Ltd now owns 2,565,191 shares of the business services provider's stock worth $266,677,000 after acquiring an additional 200,628 shares during the period. Dimensional Fund Advisors LP boosted its position in TD SYNNEX by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,266,614 shares of the business services provider's stock worth $265,826,000 after acquiring an additional 31,404 shares during the period. Nuveen Asset Management LLC raised its stake in shares of TD SYNNEX by 343.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider's stock worth $141,913,000 after buying an additional 937,040 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in shares of TD SYNNEX by 3.0% in the 4th quarter. Lord Abbett & CO. LLC now owns 849,944 shares of the business services provider's stock worth $99,681,000 after buying an additional 24,476 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insider Buying and Selling at TD SYNNEX

In other news, CFO Marshall Witt sold 1,509 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer owned 49,563 shares in the company, valued at $6,212,722.05. This trade represents a 2.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alim Dhanji sold 1,257 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total value of $179,009.37. Following the completion of the transaction, the insider owned 10,984 shares of the company's stock, valued at $1,564,231.44. The trade was a 10.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,076 shares of company stock valued at $8,992,884 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SNX shares. JPMorgan Chase & Co. boosted their target price on TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Loop Capital boosted their target price on TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Wall Street Zen lowered TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Morgan Stanley set a $155.00 target price on TD SYNNEX and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $156.00 target price on shares of TD SYNNEX in a research report on Friday, July 11th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $149.30.

TD SYNNEX Trading Up 3.3%

TD SYNNEX stock traded up $4.76 during mid-day trading on Tuesday, hitting $150.38. 785,643 shares of the company's stock were exchanged, compared to its average volume of 806,538. The firm has a market capitalization of $12.40 billion, a P/E ratio of 17.57, a PEG ratio of 1.19 and a beta of 1.32. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $150.52. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. The company's 50 day simple moving average is $136.77 and its 200-day simple moving average is $128.02.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued 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. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The business had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter last year, the business posted $2.73 EPS. The firm's revenue was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate 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 was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. TD SYNNEX's dividend payout ratio (DPR) is currently 20.56%.

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.