Ritholtz Wealth Management Raises Holdings in TD SYNNEX Corporation (NYSE:SNX)

Ritholtz Wealth Management increased its holdings in TD SYNNEX Corporation (NYSE:SNX) by 40.3% in the 1st quarter, HoldingsChannel reports. The fund owned 3,535 shares of the business services provider’s stock after purchasing an additional 1,016 shares during the quarter. Ritholtz Wealth Management’s holdings in TD SYNNEX were worth $367,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its position in TD SYNNEX by 3.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,252 shares of the business services provider’s stock worth $754,000 after acquiring an additional 244 shares during the period. Fifth Third Bancorp lifted its stake in TD SYNNEX by 48.2% during the first quarter. Fifth Third Bancorp now owns 1,476 shares of the business services provider’s stock worth $153,000 after purchasing an additional 480 shares in the last quarter. CX Institutional lifted its stake in TD SYNNEX by 1.0% during the first quarter. CX Institutional now owns 11,977 shares of the business services provider’s stock worth $1,245,000 after purchasing an additional 118 shares in the last quarter. SG Americas Securities LLC acquired a new position in TD SYNNEX during the first quarter worth $1,025,000. Finally, GAMMA Investing LLC lifted its stake in TD SYNNEX by 16.8% during the first quarter. GAMMA Investing LLC now owns 750 shares of the business services provider’s stock worth $78,000 after purchasing an additional 108 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,000 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was 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 in the company, valued at $1,637,130. This trade represents a 16.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

TD SYNNEX Trading Down 1.0%

NYSE:SNX opened at $124.55 on Friday. The firm has a market cap of $10.45 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.06 and a beta of 1.29. The stock has a fifty day moving average price of $117.78 and a 200 day moving average price of $123.96. TD SYNNEX Corporation has a 12-month low of $92.23 and a 12-month high of $145.10. The company has a current ratio of 1.27, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). The company had revenue of $14.53 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $2.99 earnings per share. Sell-side analysts anticipate that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Friday, April 11th. TD SYNNEX’s dividend payout ratio is presently 21.97%.

Wall Street Analysts Forecast Growth

SNX has been the topic of a number of research reports. Cfra decreased their price target on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. JPMorgan Chase & Co. decreased their price target on TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Morgan Stanley initiated coverage on TD SYNNEX in a research note on Wednesday, June 11th. They set an “overweight” rating and a $145.00 price target on the stock. Barrington Research restated an “outperform” rating and set a $156.00 price target on shares of TD SYNNEX in a research note on Friday, April 11th. Finally, Barclays decreased their price target on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Friday, March 28th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $138.00.

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.