13,115 Shares in TD SYNNEX Corporation (NYSE:SNX) Bought by Sumitomo Mitsui Trust Group Inc.

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

Other hedge funds have also bought and sold shares of the company. Arizona State Retirement System lifted its position in TD SYNNEX by 0.4% during 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 during the last quarter. Quadrant Capital Group LLC lifted its position in TD SYNNEX by 9.2% during 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 during the last quarter. Ellevest Inc. lifted its position in 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 acquiring an additional 90 shares during the last quarter. Utah Retirement Systems lifted its position in 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 acquiring an additional 100 shares during the last quarter. Finally, Amundi lifted its position in TD SYNNEX by 22.3% during the fourth quarter. Amundi now owns 560 shares of the business services provider's stock worth $66,000 after acquiring an additional 102 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Richard T. Hume sold 63,310 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the completion of the transaction, the director directly owned 67,515 shares of the company's stock, valued at $9,197,568.45. This represents a 48.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marshall Witt sold 1,509 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total transaction of $189,153.15. Following the transaction, the chief financial officer directly 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. Insiders sold 67,819 shares of company stock valued at $9,143,874 in the last three months. Company insiders own 1.00% of the company's stock.

TD SYNNEX Stock Up 0.7%

Shares of NYSE:SNX traded up $0.93 during midday trading on Friday, hitting $140.21. 680,142 shares of the company's stock were exchanged, compared to its average volume of 745,780. 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 50 day moving average price of $124.32 and a 200-day moving average price of $124.90. The company has a market cap of $11.77 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.16 and a beta of 1.30. TD SYNNEX Corporation has a 12 month low of $92.23 and a 12 month high of $145.10.

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, topping 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 business had revenue of $14.95 billion during 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 quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, July 11th. TD SYNNEX's dividend payout ratio is currently 20.56%.

Analyst Ratings Changes

SNX has been the topic of several recent research reports. Morgan Stanley set a $155.00 target price on shares of TD SYNNEX and gave the stock an "overweight" rating in a report on Wednesday, June 25th. UBS Group lowered their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $145.00 target price on shares of TD SYNNEX in a report on Wednesday, June 25th. Barclays set a $140.00 target price on shares of TD SYNNEX in a report on Tuesday, June 24th. Finally, The Goldman Sachs Group lowered their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, TD SYNNEX currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.56.

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.