Universal Beteiligungs und Servicegesellschaft mbH Cuts Holdings in TD SYNNEX Corporation (NYSE:SNX)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH reduced its holdings in TD SYNNEX Corporation by 11.7%, selling 6,164 shares and owning approximately 0.06% valued at $4.83 million.
• In recent trading, TD SYNNEX shares opened at $146.71, with a 1-year range between $92.23 and $147.18, and a market capitalization of $12.10 billion.
• TD SYNNEX reported earnings of $2.99 per share, exceeding expectations, with a revenue increase of 7.2% year-over-year, reaching $14.95 billion for the quarter.

Universal Beteiligungs und Servicegesellschaft mbH lessened its holdings in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 11.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 46,422 shares of the business services provider's stock after selling 6,164 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.06% of TD SYNNEX worth $4,826,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake in shares of TD SYNNEX by 9.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock worth $125,000 after purchasing an additional 90 shares during the last quarter. Ellevest Inc. raised its stake in shares of TD SYNNEX by 3.9% in the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock worth $280,000 after purchasing an additional 90 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of TD SYNNEX by 1.6% in the first quarter. Crossmark Global Holdings Inc. now owns 6,063 shares of the business services provider's stock worth $630,000 after purchasing an additional 94 shares during the last quarter. Utah Retirement Systems raised 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 valued at $481,000 after acquiring an additional 100 shares in the last quarter. Finally, State of Michigan Retirement System raised its position in TD SYNNEX by 0.6% during the first quarter. State of Michigan Retirement System now owns 18,021 shares of the business services provider's stock valued at $1,873,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Insider Transactions at TD SYNNEX

In related news, CFO Marshall Witt sold 1,509 shares of the firm's stock in a transaction dated 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 directly owned 49,563 shares in the company, valued at $6,212,722.05. This trade represents a 2.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Miriam Anne Murphy sold 3,000 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the transaction, the insider owned 14,883 shares of the company's stock, valued at $1,637,130. This trade represents a 16.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,076 shares of company stock valued at $9,322,884 over the last three months. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on SNX shares. Barrington Research reiterated an "outperform" rating and set a $156.00 price target on shares of TD SYNNEX in a research report on Friday, July 11th. Morgan Stanley set a $155.00 price target on TD SYNNEX and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Loop Capital lifted their price target on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Finally, JPMorgan Chase & Co. raised their price objective on TD SYNNEX from $143.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $149.30.

TD SYNNEX Trading Up 0.7%

NYSE SNX traded up $1.00 on Monday, reaching $147.96. 565,862 shares of the company were exchanged, compared to its average volume of 633,761. The business's fifty day moving average price is $132.36 and its 200 day moving average price is $127.62. The stock has a market capitalization of $12.20 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 1.20 and a beta of 1.30. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $148.16.

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. The firm had revenue of $14.95 billion during the quarter, compared to the consensus estimate of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The company's quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $2.73 EPS. Analysts forecast that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The business 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 1.19%. TD SYNNEX's dividend payout ratio (DPR) is presently 20.56%.

TD SYNNEX 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.