Victory Capital Management Inc. Decreases Stock Holdings in TD SYNNEX Corporation (NYSE:SNX)

Victory Capital Management Inc. reduced its holdings in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 319,591 shares of the business services provider's stock after selling 5,637 shares during the period. Victory Capital Management Inc. owned about 0.38% of TD SYNNEX worth $33,225,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SNX. Quadrant Capital Group LLC grew its holdings in shares of TD SYNNEX by 9.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock valued at $125,000 after purchasing an additional 90 shares during the last quarter. Ellevest Inc. lifted its stake in shares of TD SYNNEX by 3.9% in the 4th quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock valued at $280,000 after acquiring an additional 90 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in TD SYNNEX by 1.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 6,063 shares of the business services provider's stock valued at $630,000 after acquiring an additional 94 shares during the period. Utah Retirement Systems grew its position in TD SYNNEX by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock worth $481,000 after acquiring an additional 100 shares during the last quarter. Finally, State of Michigan Retirement System increased its stake in TD SYNNEX by 0.6% in the 1st quarter. State of Michigan Retirement System now owns 18,021 shares of the business services provider's stock worth $1,873,000 after purchasing an additional 100 shares during the period. 84.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Miriam Anne Murphy sold 3,000 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the sale, the insider directly owned 14,883 shares in the company, valued at approximately $1,637,130. This represents a 16.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marshall Witt sold 1,509 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total transaction of $189,153.15. Following the completion of the sale, the chief financial officer directly owned 49,563 shares in the company, valued at approximately $6,212,722.05. This represents a 2.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,076 shares of company stock valued at $9,322,884. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

SNX has been the subject of a number of analyst reports. Loop Capital increased their price objective on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, June 30th. UBS Group dropped their price target on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Friday, March 28th. The Goldman Sachs Group decreased their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Bank of America upped their price objective on shares of TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $145.00 target price on shares of TD SYNNEX in a research note on Wednesday, June 25th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $149.30.

TD SYNNEX Stock Up 0.1%

SNX traded up $0.16 during trading on Thursday, reaching $145.90. The stock had a trading volume of 639,547 shares, compared to its average volume of 763,786. TD SYNNEX Corporation has a one year low of $92.23 and a one year high of $146.75. The company has a market capitalization of $12.03 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 1.19 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. The stock's 50 day moving average is $131.45 and its two-hundred day moving average is $127.28.

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

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.21%. TD SYNNEX's payout ratio is currently 20.56%.

About TD SYNNEX

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.