Charles Schwab Investment Management Inc. Has $54.91 Million Holdings in TD SYNNEX Corporation (NYSE:SNX)

Key Points

• Charles Schwab Investment Management Inc. has increased its holdings in TD SYNNEX Corporation by 4.1% during the first quarter, now owning 528,161 shares valued at approximately $54.9 million.
• The company recently reported an earnings of $2.99 EPS for the quarter, exceeding analyst expectations of $2.71 and showing a year-over-year revenue increase of 7.2%.
• TD SYNNEX has a current dividend yield of 1.2%, with an annualized dividend payout of $1.76 and a payout ratio of 20.56%.

Charles Schwab Investment Management Inc. raised its holdings in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 528,161 shares of the business services provider's stock after purchasing an additional 20,726 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.63% of TD SYNNEX worth $54,908,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Bessemer Group Inc. grew its stake in shares of TD SYNNEX by 174.7% in the 4th 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 raised its position 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 buying an additional 183 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of TD SYNNEX during the first quarter worth $44,000. State of Wyoming grew its stake 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 purchasing an additional 203 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of TD SYNNEX by 16.8% during the first quarter. GAMMA Investing LLC now owns 750 shares of the business services provider's stock valued at $78,000 after purchasing an additional 108 shares during the period. Institutional investors own 84.00% of the company's stock.

Analyst Ratings Changes

SNX has been the subject of a number of research reports. Wall Street Zen raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Saturday. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $145.00 price objective on shares of TD SYNNEX in a report on Wednesday, June 25th. Barrington Research reiterated an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a research note on Friday, July 11th. JPMorgan Chase & Co. increased their target price on shares of TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, Morgan Stanley set a $155.00 target price on shares of TD SYNNEX and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $149.30.

Insider Activity

In related news, CFO Marshall Witt sold 1,509 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total value of $189,153.15. Following the sale, the chief financial officer directly owned 49,563 shares in the company, valued at $6,212,722.05. The trade was a 2.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard T. Hume sold 63,310 shares of the business's stock in a transaction dated 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. The trade was a 48.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,888 shares of company stock worth $9,115,025 in the last ninety days. 1.00% of the stock is owned by insiders.

TD SYNNEX Stock Down 2.3%

NYSE SNX traded down $3.49 during trading on Friday, reaching $147.40. 743,874 shares of the company's stock traded hands, compared to its average volume of 552,303. TD SYNNEX Corporation has a 12-month low of $92.23 and a 12-month high of $153.70. The firm has a market cap of $12.16 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.20 and a beta of 1.32. 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 company's 50 day simple moving average is $139.01 and its two-hundred day simple moving average is $128.28.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the previous year, the firm earned $2.73 EPS. The firm's revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 1.2%. TD SYNNEX's dividend payout ratio (DPR) is 20.56%.

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.