UBS Group AG Trims Stock Holdings in TD SYNNEX Corporation $SNX

Key Points

• UBS Group AG reduced its TD SYNNEX stake by 18.2% in the fourth quarter, selling 35,674 shares and leaving it with 160,155 shares valued at about $24.1 million.
• TD SYNNEX reported strong quarterly results, posting $4.73 EPS versus $3.24 expected and $17.16 billion in revenue versus $15.59 billion expected, with revenue up 18.1% year over year.
• Analysts remain generally positive on the stock, with the consensus rating at “Moderate Buy” and several firms lifting price targets, including UBS raising its target to $265.

UBS Group AG trimmed its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 18.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,155 shares of the business services provider's stock after selling 35,674 shares during the period. UBS Group AG owned 0.20% of TD SYNNEX worth $24,060,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNX. Dorato Capital Management purchased a new stake in TD SYNNEX in the fourth quarter worth $27,000. Ossiam grew its stake in TD SYNNEX by 84.3% in the third quarter. Ossiam now owns 164 shares of the business services provider's stock worth $27,000 after purchasing an additional 75 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in TD SYNNEX in the third quarter worth $30,000. Brown Brothers Harriman & Co. grew its stake in TD SYNNEX by 675.9% in the third quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider's stock worth $37,000 after purchasing an additional 196 shares during the period. Finally, Root Financial Partners LLC purchased a new stake in TD SYNNEX in the third quarter worth $42,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Trading Up 0.1%

TD SYNNEX stock opened at $239.41 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. TD SYNNEX Corporation has a one year low of $117.45 and a one year high of $240.47. The stock has a market capitalization of $19.25 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.04 and a beta of 1.40. The business's fifty day moving average is $184.68 and its 200 day moving average is $165.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, beating the consensus estimate of $3.24 by $1.49. The company had revenue of $17.16 billion for the quarter, compared to analysts' expectations of $15.59 billion. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.TD SYNNEX's revenue was up 18.1% compared to the same quarter last year. During the same period last year, the firm posted $2.80 earnings per share. On average, sell-side analysts predict that TD SYNNEX Corporation will post 15.69 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently disclosed 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 was Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. TD SYNNEX's dividend payout ratio is 15.96%.

Wall Street Analysts Forecast Growth

SNX has been the topic of several recent research reports. Wall Street Zen raised TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. JPMorgan Chase & Co. increased their target price on TD SYNNEX from $185.00 to $220.00 and gave the stock a "neutral" rating in a research note on Thursday, April 16th. Royal Bank Of Canada upped their price target on shares of TD SYNNEX from $210.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Morgan Stanley upped their price target on shares of TD SYNNEX from $172.00 to $174.00 and gave the stock an "overweight" rating in a research note on Friday, March 20th. Finally, UBS Group upped their price target on shares of TD SYNNEX from $193.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $197.70.

Insider Activity at TD SYNNEX

In related news, insider Miriam Anne Murphy sold 3,025 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $200.14, for a total transaction of $605,423.50. Following the transaction, the insider owned 10,820 shares in the company, valued at $2,165,514.80. This represents a 21.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Merline Saintil sold 167 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $157.75, for a total transaction of $26,344.25. Following the transaction, the director owned 6,995 shares in the company, valued at approximately $1,103,461.25. This trade represents a 2.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,417 shares of company stock worth $2,412,026 in the last three months. 0.70% of the stock is currently owned by company insiders.

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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