Sumitomo Mitsui Trust Group Inc. Makes New $1.36 Million Investment in TD SYNNEX Corporation (NYSE:SNX)

Sumitomo Mitsui Trust Group Inc. bought a new stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,115 shares of the business services provider's stock, valued at approximately $1,363,000.

Other institutional investors have also modified their holdings of the company. Bessemer Group Inc. increased its holdings in shares of TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after purchasing an additional 152 shares during the period. Versant Capital Management Inc increased its holdings in shares of TD SYNNEX by 115.1% in the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock valued at $36,000 after purchasing an additional 183 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of TD SYNNEX by 196.5% in the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider's stock valued at $59,000 after purchasing an additional 336 shares during the period. Amundi increased its holdings 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 purchasing an additional 102 shares during the period. Finally, State of Wyoming increased its holdings 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 valued at $70,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 84.00% of the company's stock.

TD SYNNEX Price Performance

TD SYNNEX stock traded up $1.53 during trading hours on Tuesday, hitting $141.05. The stock had a trading volume of 665,595 shares, compared to its average volume of 738,832. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75. The stock has a market capitalization of $11.63 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.15 and a beta of 1.30. TD SYNNEX Corporation has a 1-year low of $92.23 and a 1-year high of $145.10. The stock's fifty day moving average is $125.49 and its two-hundred day moving average is $125.28.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued 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 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 period in the prior year, the business earned $2.73 earnings per share. The business's revenue was up 7.2% on a year-over-year basis. As a group, analysts predict that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently disclosed 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 is Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.25%. TD SYNNEX's dividend payout ratio is currently 20.56%.

Insider Buying and Selling

In other TD SYNNEX news, Director Richard T. Hume sold 63,310 shares of the company's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the completion of the sale, the director directly owned 67,515 shares in the company, valued at $9,197,568.45. This represents a 48.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Marshall Witt sold 1,509 shares of the company'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 sale, the chief financial officer owned 49,563 shares of the company's stock, valued at $6,212,722.05. This represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,819 shares of company stock worth $9,143,874. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SNX has been the topic of a number of recent research reports. UBS Group dropped their target price on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Wall Street Zen raised TD SYNNEX from a "hold" rating to a "buy" rating in a report on Friday, June 27th. JPMorgan Chase & Co. dropped their price objective on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Loop Capital upped their price objective on TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Finally, Morgan Stanley set a $155.00 price objective on TD SYNNEX and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $142.56.

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.