LSV Asset Management Has $196.67 Million Stock Position in TD SYNNEX Corporation (NYSE:SNX)

Key Points

• LSV Asset Management increased its stake in TD SYNNEX by 10.3%, purchasing an additional 175,922 shares during the first quarter, bringing its total ownership to 1,891,769 shares worth approximately $196.67 million.
• TD SYNNEX reported $2.99 earnings per share for the last quarter, exceeding analysts' expectations, with a year-over-year revenue growth of 7.2%.
• The company recently announced a quarterly dividend of $0.44 per share, representing an annual yield of 1.3%, and has a payout ratio of 20.56%.

LSV Asset Management grew its stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,891,769 shares of the business services provider's stock after purchasing an additional 175,922 shares during the period. LSV Asset Management owned about 2.25% of TD SYNNEX worth $196,668,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNX. Bessemer Group Inc. grew its holdings in TD SYNNEX by 174.7% during the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after acquiring an additional 152 shares in the last quarter. Versant Capital Management Inc increased its position in TD SYNNEX by 115.1% in the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock valued at $36,000 after acquiring an additional 183 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in TD SYNNEX in the 1st quarter valued at about $44,000. State of Wyoming boosted its position in shares of TD SYNNEX by 51.9% in the fourth quarter. State of Wyoming now owns 594 shares of the business services provider's stock worth $70,000 after buying an additional 203 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of TD SYNNEX by 16.8% in the 1st quarter. GAMMA Investing LLC now owns 750 shares of the business services provider's stock valued at $78,000 after buying an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insider Transactions at TD SYNNEX

In related news, CFO Marshall Witt sold 1,509 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total transaction of $189,153.15. Following the sale, the chief financial officer owned 49,563 shares of the company's stock, valued at $6,212,722.05. The trade was a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 transaction of $179,009.37. Following the transaction, the insider owned 10,984 shares of the company's stock, valued at approximately $1,564,231.44. This trade represents a 10.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,076 shares of company stock valued at $8,992,884 over the last quarter. Company insiders own 1.00% of the company's stock.

TD SYNNEX Trading Up 0.9%

Shares of SNX traded up $1.28 during midday trading on Monday, reaching $142.13. The company had a trading volume of 406,170 shares, compared to its average volume of 568,655. The firm has a 50 day simple moving average of $134.20 and a 200-day simple moving average of $127.89. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. TD SYNNEX Corporation has a 1-year low of $92.23 and a 1-year high of $149.76. The stock has a market cap of $11.72 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.15 and a beta of 1.32.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings data 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 net margin of 1.21% and a return on equity of 11.58%. The company had revenue of $14.95 billion for the quarter, compared to analysts' expectations of $14.30 billion. During the same period in the previous year, the company posted $2.73 EPS. TD SYNNEX's revenue was up 7.2% compared to the same quarter last year. Research analysts forecast that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given 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 is presently 20.56%.

Analysts Set New Price Targets

SNX has been the subject of a number of research analyst reports. Bank of America lifted their target price on shares of TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Morgan Stanley set a $155.00 target price on shares of TD SYNNEX and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Loop Capital boosted their target price on shares of TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. JPMorgan Chase & Co. increased their price objective on shares of TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $145.00 target price on shares of TD SYNNEX in a research report on Wednesday, June 25th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $149.30.

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.