Vanguard Group Inc. Sells 124,243 Shares of TD SYNNEX Corporation $SNX

Key Points

• Vanguard Group Inc. trimmed its stake in TD SYNNEX by 1.5%, selling 124,243 shares and leaving it with 8,046,004 shares (about 9.88%) valued at approximately $1.21 billion.
• TD SYNNEX beat quarterly estimates, reporting $4.73 EPS versus $3.24 expected and $17.16 billion in revenue (up 18.1% year-over-year), and Wall Street’s consensus is a "Moderate Buy" with an average target of $190.50.
• Insiders sold 43,682 shares (~$7.38 million) over the last three months; institutional investors own about 84% of the stock while insiders hold roughly 0.70%.

Vanguard Group Inc. reduced its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,046,004 shares of the business services provider's stock after selling 124,243 shares during the quarter. Vanguard Group Inc. owned approximately 9.88% of TD SYNNEX worth $1,208,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in SNX. Ossiam increased its holdings in TD SYNNEX by 84.3% in the 3rd quarter. Ossiam now owns 164 shares of the business services provider's stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Dorato Capital Management bought a new stake in TD SYNNEX in the 4th quarter valued at about $27,000. Measured Wealth Private Client Group LLC purchased a new stake in TD SYNNEX during the third quarter valued at about $30,000. Brown Brothers Harriman & Co. increased its stake in shares of 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 in the last quarter. Finally, Root Financial Partners LLC bought a new stake in shares of TD SYNNEX in the third quarter valued at approximately $42,000. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Stock Performance

NYSE:SNX opened at $228.47 on Friday. The company has a market capitalization of $18.37 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 1.15 and a beta of 1.23. The business has a 50 day moving average of $180.17 and a 200 day moving average of $163.31. 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 1-year low of $112.27 and a 1-year high of $231.62.

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

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, April 15th. TD SYNNEX's dividend payout ratio (DPR) is presently 15.96%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Zacks Research raised shares of TD SYNNEX from a "hold" rating to a "strong-buy" rating in a report on Monday, April 6th. UBS Group increased their target price on TD SYNNEX from $187.00 to $193.00 and gave the stock a "buy" rating in a research report on Friday, January 9th. Barrington Research reaffirmed an "outperform" rating and issued a $182.00 price target on shares of TD SYNNEX in a report on Friday, March 27th. JPMorgan Chase & Co. lifted their price target on TD SYNNEX from $185.00 to $220.00 and gave the company a "neutral" rating in a research report on Thursday, April 16th. Finally, Wall Street Zen raised TD SYNNEX from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. One 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. Based on data from MarketBeat, TD SYNNEX has a consensus rating of "Moderate Buy" and an average target price of $190.50.

Insiders Place Their Bets

In other news, Director Richard T. Hume sold 23,365 shares of the firm's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $160.63, for a total transaction of $3,753,119.95. Following the transaction, the director directly owned 42,515 shares of the company's stock, valued at approximately $6,829,184.45. This trade represents a 35.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick Zammit sold 13,900 shares of the business's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $171.57, for a total value of $2,384,823.00. Following the completion of the sale, the chief executive officer directly owned 170,928 shares of the company's stock, valued at approximately $29,326,116.96. This trade represents a 7.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 43,682 shares of company stock valued at $7,380,719 over the last three months. 0.70% of the stock is currently owned by company insiders.

TD SYNNEX Company Profile

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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