Thompson Siegel & Walmsley LLC Sells 15,664 Shares of TD SYNNEX Corporation $SNX

Key Points

• Thompson Siegel & Walmsley LLC reduced its TD SYNNEX position by 4.3% in the fourth quarter, selling 15,664 shares and ending with 351,233 shares valued at about $52.8 million.
• Insider selling has also been notable, including Director Richard T. Hume’s sale of 5,000 shares in May; insiders have sold 16,417 shares worth $3.56 million over the last 90 days.
• TD SYNNEX posted strong results and upbeat analyst sentiment, with quarterly EPS of $4.73 beating estimates and revenue rising 18.1% year over year, while analysts currently rate the stock a consensus “Buy” with a $212.60 target price.

Thompson Siegel & Walmsley LLC cut its stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 351,233 shares of the business services provider's stock after selling 15,664 shares during the period. Thompson Siegel & Walmsley LLC owned about 0.44% of TD SYNNEX worth $52,766,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in TD SYNNEX in the 4th quarter valued at about $148,559,000. Alyeska Investment Group L.P. bought a new stake in shares of TD SYNNEX during the third quarter valued at approximately $135,631,000. Victory Capital Management Inc. boosted its holdings in shares of TD SYNNEX by 123.6% in the third quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider's stock valued at $119,263,000 after purchasing an additional 402,573 shares during the period. Wedge Capital Management L L P NC purchased a new stake in shares of TD SYNNEX in the fourth quarter valued at approximately $60,104,000. Finally, Marshall Wace LLP grew its stake in TD SYNNEX by 6,626.0% in the third quarter. Marshall Wace LLP now owns 402,754 shares of the business services provider's stock worth $65,951,000 after purchasing an additional 396,766 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insider Activity

In related news, Director Richard T. Hume sold 5,000 shares of the company's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $229.54, for a total transaction of $1,147,700.00. Following the transaction, the director directly owned 28,537 shares of the company's stock, valued at $6,550,382.98. This represents a 14.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Merline Saintil sold 167 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $157.75, for a total value of $26,344.25. Following the completion of the sale, the director owned 6,995 shares of the company's stock, valued at approximately $1,103,461.25. This trade represents a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,417 shares of company stock valued at $3,559,726 in the last ninety days. 0.70% of the stock is currently owned by insiders.

TD SYNNEX Price Performance

Shares of SNX stock opened at $260.46 on Monday. The stock's 50-day moving average is $210.50 and its 200 day moving average is $174.46. TD SYNNEX Corporation has a 1-year low of $118.35 and a 1-year high of $264.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. The company has a market cap of $20.94 billion, a P/E ratio of 21.65, a PEG ratio of 1.13 and a beta of 1.43.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, topping analysts' consensus estimates of $3.24 by $1.49. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The business had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $15.59 billion. During the same period in the previous year, the company posted $2.80 earnings per share. The firm's revenue was up 18.1% on a year-over-year basis. Research analysts predict that TD SYNNEX Corporation will post 15.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a yield of 0.7%. TD SYNNEX's dividend payout ratio is presently 15.96%.

Analysts Set New Price Targets

SNX has been the subject of a number of research analyst reports. Zacks Research raised TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 6th. Morgan Stanley increased their price target on TD SYNNEX from $172.00 to $174.00 and gave the stock an "overweight" rating in a research report on Friday, March 20th. UBS Group lifted their price objective on TD SYNNEX from $193.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Barrington Research reaffirmed an "outperform" rating and issued a $182.00 price objective on shares of TD SYNNEX in a research note on Friday, March 27th. Finally, Royal Bank Of Canada increased their target price on shares of TD SYNNEX from $210.00 to $250.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, TD SYNNEX has a consensus rating of "Buy" and a consensus target price of $212.60.

About TD SYNNEX

TD SYNNEX NYSE: SNX is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company's core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.

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