TD SYNNEX Corporation (NYSE:SNX) Shares Acquired by Ninety One UK Ltd

Ninety One UK Ltd raised its stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 8.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,565,191 shares of the business services provider's stock after purchasing an additional 200,628 shares during the period. Ninety One UK Ltd owned 3.06% of TD SYNNEX worth $266,677,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNX. Arizona State Retirement System increased its position in shares of TD SYNNEX by 0.4% in the fourth quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider's stock worth $2,607,000 after acquiring an additional 78 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of TD SYNNEX by 9.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock worth $125,000 after acquiring an additional 90 shares in the last quarter. Ellevest Inc. increased its position in shares of TD SYNNEX by 3.9% in the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock worth $280,000 after acquiring an additional 90 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of TD SYNNEX by 1.6% in the first quarter. Crossmark Global Holdings Inc. now owns 6,063 shares of the business services provider's stock worth $630,000 after acquiring an additional 94 shares in the last quarter. Finally, Utah Retirement Systems increased its position in shares of TD SYNNEX by 2.5% in the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock worth $481,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

TD SYNNEX Stock Down 0.5%

NYSE SNX traded down $0.72 during trading hours on Friday, reaching $141.66. 529,876 shares of the company traded hands, compared to its average volume of 734,937. TD SYNNEX Corporation has a 12 month low of $92.23 and a 12 month high of $145.10. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $11.68 billion, a PE ratio of 16.55, a PEG ratio of 1.17 and a beta of 1.30. The company has a 50 day moving average of $127.26 and a two-hundred day moving average of $125.72.

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, beating analysts' consensus estimates of $2.71 by $0.28. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The firm had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same period in the prior year, the firm posted $2.73 EPS. The firm's revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts expect that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.24%. TD SYNNEX's payout ratio is currently 20.56%.

Insider Transactions at TD SYNNEX

In other news, insider Miriam Anne Murphy sold 3,000 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were 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 approximately $1,637,130. This trade represents a 16.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Marshall Witt sold 1,509 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total transaction of $189,153.15. Following the completion of the sale, the chief financial officer directly owned 49,563 shares in the company, valued at approximately $6,212,722.05. This trade represents a 2.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,819 shares of company stock worth $9,143,874. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SNX has been the subject of several analyst reports. Barrington Research restated an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a research note on Friday. Royal Bank Of Canada restated an "outperform" rating and issued a $145.00 target price on shares of TD SYNNEX in a research note on Wednesday, June 25th. Loop Capital upped their target price on shares of TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Cfra decreased their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. decreased their target price on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Two investment 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, TD SYNNEX has a consensus rating of "Moderate Buy" and a consensus target price of $142.56.

TD SYNNEX Company 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.