SG Americas Securities LLC Purchases Shares of 9,856 TD SYNNEX Corporation (NYSE:SNX)

SG Americas Securities LLC acquired a new position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,856 shares of the business services provider's stock, valued at approximately $1,025,000.

Other hedge funds also recently modified their holdings of the company. Arizona State Retirement System grew its position in TD SYNNEX by 0.4% during the 4th 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 during the last quarter. Quadrant Capital Group LLC boosted its stake in 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 purchasing an additional 90 shares in the last quarter. Ellevest Inc. grew its holdings in shares of TD SYNNEX by 3.9% during the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock worth $280,000 after purchasing an additional 90 shares during the last quarter. Utah Retirement Systems grew its holdings in shares of TD SYNNEX by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock worth $481,000 after purchasing an additional 100 shares during the last quarter. Finally, Amundi increased its stake in shares of TD SYNNEX by 22.3% in the fourth quarter. Amundi now owns 560 shares of the business services provider's stock valued at $66,000 after buying an additional 102 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

TD SYNNEX Trading Down 1.0%

Shares of SNX stock traded down $1.25 during trading hours on Thursday, reaching $124.55. The company had a trading volume of 728,127 shares, compared to its average volume of 734,948. TD SYNNEX Corporation has a 1-year low of $92.23 and a 1-year high of $145.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.27 and a quick ratio of 0.74. The firm has a market cap of $10.45 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 1.07 and a beta of 1.29. The company has a 50 day moving average of $117.33 and a 200 day moving average of $123.94.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). The company had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a net margin of 1.16% and a return on equity of 11.54%. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.99 EPS. On average, equities research analysts anticipate that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.41%. The ex-dividend date was Friday, April 11th. TD SYNNEX's payout ratio is presently 21.97%.

Insiders Place Their Bets

In other news, insider Miriam Anne Murphy sold 3,000 shares of TD SYNNEX stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the insider now owns 14,883 shares in the company, valued at $1,637,130. The trade was a 16.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

SNX has been the topic of several research reports. Barclays decreased their price objective on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Wall Street Zen cut shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price objective on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. The Goldman Sachs Group decreased their price objective on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Finally, Morgan Stanley began coverage on TD SYNNEX in a research note on Wednesday, June 11th. They issued an "overweight" rating and a $145.00 target price for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, TD SYNNEX presently has an average rating of "Moderate Buy" and an average price target of $138.00.

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.