Cookson Peirce & Co. Inc. Has $4.83 Million Position in TD SYNNEX Corporation $SNX

Cookson Peirce & Co. Inc. lessened its position in TD SYNNEX Corporation (NYSE:SNX) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,135 shares of the business services provider’s stock after selling 1,925 shares during the period. Cookson Peirce & Co. Inc.’s holdings in TD SYNNEX were worth $4,828,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SNX. Dorato Capital Management acquired a new position in TD SYNNEX in the 4th quarter worth about $27,000. 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 purchasing an additional 75 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of TD SYNNEX in the 3rd quarter valued at about $30,000. Lloyd Advisory Services LLC. bought a new stake in shares of TD SYNNEX in the 4th quarter valued at about $32,000. Finally, Brown Brothers Harriman & Co. grew its position in shares of TD SYNNEX by 675.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider’s stock valued at $37,000 after buying an additional 196 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Activity at TD SYNNEX

In related news, Director Richard T. Hume sold 5,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $280.38, for a total transaction of $1,401,900.00. Following the sale, the director owned 23,537 shares in the company, valued at $6,599,304.06. This represents a 17.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Miriam Anne Murphy sold 3,025 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $200.14, for a total value of $605,423.50. Following the sale, the insider owned 10,820 shares in the company, valued at approximately $2,165,514.80. The trade was a 21.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,250 shares of company stock worth $4,935,282 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

TD SYNNEX Stock Down 3.4%

Shares of TD SYNNEX stock opened at $268.25 on Friday. TD SYNNEX Corporation has a one year low of $121.50 and a one year high of $286.25. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. The stock’s 50-day moving average is $222.16 and its 200 day moving average is $178.64. The firm has a market cap of $21.56 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 1.16 and a beta of 1.43.

TD SYNNEX (NYSE:SNX) last announced 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. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The company had revenue of $17.16 billion for the quarter, compared to analyst estimates of $15.59 billion. During the same quarter in the prior year, the company earned $2.80 EPS. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. Equities research analysts anticipate that TD SYNNEX Corporation will post 15.88 EPS for the current 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 dividend of $0.48 per share. The ex-dividend date was Wednesday, April 15th. This represents a $1.92 annualized dividend and a dividend yield of 0.7%. TD SYNNEX’s dividend payout ratio is presently 15.96%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SNX. JPMorgan Chase & Co. upgraded TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price target on the stock in a research report on Wednesday, May 27th. Morgan Stanley upped their price target on TD SYNNEX from $172.00 to $174.00 and gave the company an “overweight” rating in a research report on Friday, March 20th. Wall Street Zen upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Zacks Research lowered TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Finally, UBS Group upped their price target on TD SYNNEX from $193.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $212.60.

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.