SG Americas Securities LLC Acquires 49,456 Shares of TD SYNNEX Corporation $SNX

SG Americas Securities LLC grew its stake in shares of TD SYNNEX Corporation (NYSE:SNX) by 65.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,141 shares of the business services provider’s stock after purchasing an additional 49,456 shares during the quarter. SG Americas Securities LLC owned approximately 0.16% of TD SYNNEX worth $21,113,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Concentric Capital Strategies LP purchased a new position in TD SYNNEX during the 3rd quarter valued at about $18,036,000. Fieldview Capital Management LLC purchased a new stake in TD SYNNEX in the third quarter worth about $1,318,000. Citigroup Inc. grew its holdings in TD SYNNEX by 12.0% in the third quarter. Citigroup Inc. now owns 83,103 shares of the business services provider’s stock worth $13,608,000 after purchasing an additional 8,914 shares during the period. Intech Investment Management LLC increased its stake in shares of TD SYNNEX by 38.4% during the fourth quarter. Intech Investment Management LLC now owns 21,578 shares of the business services provider’s stock valued at $3,242,000 after purchasing an additional 5,982 shares in the last quarter. Finally, Algert Global LLC purchased a new position in shares of TD SYNNEX during the third quarter valued at approximately $7,140,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SNX. Weiss Ratings cut TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 17th. Barrington Research reiterated an “outperform” rating on shares of TD SYNNEX in a research note on Tuesday, June 16th. The Goldman Sachs Group boosted their target price on TD SYNNEX from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Zacks Research cut TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Barclays lifted their price target on TD SYNNEX from $166.00 to $237.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $249.80.

TD SYNNEX Stock Performance

SNX stock opened at $282.13 on Thursday. The stock has a market capitalization of $22.68 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 1.19 and a beta of 1.43. TD SYNNEX Corporation has a 12-month low of $133.71 and a 12-month high of $296.47. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. The stock’s 50 day simple moving average is $247.10 and its 200 day simple moving average is $190.78.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, beating the consensus estimate of $3.24 by $1.49. The business had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $15.59 billion. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The company’s revenue was up 18.1% compared to the same quarter last year. During the same period last year, the business posted $2.80 EPS. As a group, research analysts forecast that TD SYNNEX Corporation will post 15.88 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. Shareholders of record on Wednesday, April 15th were given a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a yield of 0.7%. TD SYNNEX’s payout ratio is 15.96%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO David Gregory Jordan sold 3,225 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $189.46, for a total transaction of $611,008.50. Following the transaction, the chief financial officer owned 14,035 shares in the company, valued at approximately $2,659,071.10. This represents a 18.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Miriam Anne Murphy sold 3,025 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $200.14, for a total transaction of $605,423.50. Following the sale, the insider directly owned 10,820 shares in the company, valued at approximately $2,165,514.80. The trade was a 21.85% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 21,250 shares of company stock worth $4,935,282. Company insiders own 0.70% of the company’s stock.

TD SYNNEX 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.