TD SYNNEX Corporation (NYSE:SNX) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 148,385 shares of the business services provider's stock after selling 1,900 shares during the period. Swiss National Bank owned about 0.18% of TD SYNNEX worth $15,426,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Brave Warrior Advisors LLC boosted its holdings in TD SYNNEX by 12.2% in the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider's stock worth $486,380,000 after buying an additional 451,557 shares during the last quarter. Ninety One UK Ltd lifted its stake in TD SYNNEX by 8.5% in the 1st quarter. Ninety One UK Ltd now owns 2,565,191 shares of the business services provider's stock worth $266,677,000 after purchasing an additional 200,628 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in TD SYNNEX by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,266,614 shares of the business services provider's stock worth $265,826,000 after purchasing an additional 31,404 shares in the last quarter. LSV Asset Management lifted its stake in TD SYNNEX by 10.3% in the 1st quarter. LSV Asset Management now owns 1,891,769 shares of the business services provider's stock worth $196,668,000 after purchasing an additional 175,922 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in TD SYNNEX by 343.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider's stock worth $141,913,000 after purchasing an additional 937,040 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SNX shares. Barclays set a $140.00 target price on shares of TD SYNNEX in a research note on Tuesday, June 24th. Barrington Research reaffirmed an "outperform" rating and set a $156.00 price target on shares of TD SYNNEX in a research report on Friday, July 11th. Loop Capital lifted their price target on shares of TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Morgan Stanley set a $155.00 price target on shares of TD SYNNEX and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of TD SYNNEX from $143.00 to $160.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $149.30.

TD SYNNEX Stock Up 2.1%

Shares of NYSE SNX opened at $153.67 on Thursday. The firm has a market cap of $12.67 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.23 and a beta of 1.32. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. TD SYNNEX Corporation has a 52-week low of $92.23 and a 52-week high of $153.70. The business's 50 day moving average is $137.94 and its two-hundred day moving average is $128.35.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.28. The company had revenue of $14.95 billion for the quarter, compared to analyst estimates of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.73 earnings per share. Research analysts predict that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a $0.44 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. TD SYNNEX's payout ratio is 20.56%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Alim Dhanji sold 1,257 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total value of $179,009.37. Following the completion of the transaction, the insider owned 10,984 shares in the company, valued at $1,564,231.44. The trade was a 10.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Marshall Witt sold 1,509 shares of the business's stock in a transaction on 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 transaction, the chief financial officer owned 49,563 shares of the company's stock, 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 66,888 shares of company stock worth $9,115,025. 1.00% of the stock is currently owned by insiders.

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.

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