Bank of New York Mellon Corp Sells 74,820 Shares of TD SYNNEX Corporation $SNX

Bank of New York Mellon Corp decreased its stake in TD SYNNEX Corporation (NYSE:SNX) by 11.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 595,125 shares of the business services provider’s stock after selling 74,820 shares during the period. Bank of New York Mellon Corp’s holdings in TD SYNNEX were worth $89,406,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp grew its holdings in TD SYNNEX by 0.4% during the third quarter. State Street Corp now owns 2,372,733 shares of the business services provider’s stock worth $388,535,000 after purchasing an additional 9,024 shares during the period. Ninety One UK Ltd raised its position in shares of TD SYNNEX by 13.1% in the fourth quarter. Ninety One UK Ltd now owns 2,229,091 shares of the business services provider’s stock valued at $334,876,000 after buying an additional 258,630 shares in the last quarter. LSV Asset Management raised its position in shares of TD SYNNEX by 16.1% in the fourth quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider’s stock valued at $313,471,000 after buying an additional 288,625 shares in the last quarter. Geode Capital Management LLC raised its position in shares of TD SYNNEX by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider’s stock valued at $230,315,000 after buying an additional 99,090 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in TD SYNNEX by 0.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,000,942 shares of the business services provider’s stock valued at $150,371,000 after purchasing an additional 8,163 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling at TD SYNNEX

In other news, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction dated Tuesday, June 2nd. The shares were 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 of the company’s stock, valued at approximately $6,599,304.06. The trade was a 17.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Miriam Anne Murphy sold 3,025 shares of TD SYNNEX 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 $2,165,514.80. The trade was a 21.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 21,250 shares of company stock worth $4,935,282. 0.70% of the stock is currently owned by company insiders.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $271.89 on Tuesday. The stock has a market cap of $21.86 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 1.16 and a beta of 1.43. The firm’s fifty day moving average price is $224.41 and its 200-day moving average price is $179.75. TD SYNNEX Corporation has a fifty-two week low of $122.96 and a fifty-two week high of $286.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $1.49. The company had revenue of $17.16 billion for the quarter, compared to analysts’ expectations of $15.59 billion. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.80 EPS. On average, equities research analysts expect that TD SYNNEX Corporation will post 15.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed 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 was Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.7%. TD SYNNEX’s payout ratio is presently 15.96%.

Analyst Ratings Changes

A number of equities analysts have recently commented on SNX shares. Royal Bank Of Canada boosted their price target on TD SYNNEX from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Morgan Stanley boosted their price objective on shares of TD SYNNEX from $172.00 to $174.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. The Goldman Sachs Group boosted their price objective on shares of TD SYNNEX from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. JPMorgan Chase & Co. upgraded shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 target price on the stock in a report on Wednesday, May 27th. Finally, UBS Group increased their target price on shares of TD SYNNEX from $193.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $212.60.

About TD SYNNEX

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.