SG Americas Securities LLC Purchases Shares of 9,856 TD SYNNEX Corporation (NYSE:SNX)

SG Americas Securities LLC purchased a new position in shares of TD SYNNEX Corporation (NYSE:SNX) during the first quarter, Holdings Channel.com reports. The fund purchased 9,856 shares of the business services provider’s stock, valued at approximately $1,025,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its position in shares of TD SYNNEX by 0.4% during the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock valued at $2,607,000 after acquiring an additional 78 shares during the period. Quadrant Capital Group LLC grew its holdings in 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 valued at $125,000 after purchasing an additional 90 shares during the period. Ellevest Inc. increased its position 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 valued at $280,000 after buying an additional 90 shares in the last quarter. Utah Retirement Systems raised its stake in shares of 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 buying an additional 100 shares during the period. Finally, Amundi grew its stake in TD SYNNEX by 22.3% in the 4th quarter. Amundi now owns 560 shares of the business services provider’s stock valued at $66,000 after acquiring an additional 102 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley assumed coverage on shares of TD SYNNEX in a report on Wednesday, June 11th. They set an “overweight” rating and a $145.00 price objective on the stock. Barrington Research reissued an “outperform” rating and set a $156.00 target price on shares of TD SYNNEX in a report on Friday, April 11th. Royal Bank Of Canada reduced their price objective on TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Barclays dropped their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. Finally, UBS Group cut their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a report on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.00.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $125.89 on Wednesday. The firm has a 50 day simple moving average of $116.98 and a 200-day simple moving average of $123.94. The stock has a market cap of $10.56 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 1.07 and a beta of 1.29. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.27 and a quick ratio of 0.74. TD SYNNEX Corporation has a 1-year low of $92.23 and a 1-year high of $145.10.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). The business had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a net margin of 1.16% and a return on equity of 11.54%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.99 earnings per share. On average, analysts expect that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, April 11th. TD SYNNEX’s dividend payout ratio is presently 21.97%.

Insider Buying and Selling

In other news, insider Miriam Anne Murphy sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the sale, the insider now directly owns 14,883 shares of the company’s stock, valued at approximately $1,637,130. The trade was a 16.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

TD SYNNEX Company 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.