Rockefeller Capital Management L.P. Sells 39,871 Shares of TD SYNNEX Corporation $SNX

Rockefeller Capital Management L.P. reduced its position in TD SYNNEX Corporation (NYSE:SNX) by 32.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,239 shares of the business services provider’s stock after selling 39,871 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.10% of TD SYNNEX worth $12,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of TD SYNNEX during the 4th quarter worth $148,559,000. Alyeska Investment Group L.P. bought a new stake in TD SYNNEX in the 3rd quarter valued at about $135,631,000. AQR Capital Management LLC raised its stake in TD SYNNEX by 141.8% in the 4th quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider’s stock valued at $140,431,000 after acquiring an additional 548,180 shares during the period. Victory Capital Management Inc. lifted its holdings in TD SYNNEX by 123.6% during the third quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider’s stock valued at $119,263,000 after purchasing an additional 402,573 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in TD SYNNEX during the fourth quarter valued at about $60,104,000. 84.00% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO David Gregory Jordan sold 3,225 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $189.46, for a total value of $611,008.50. Following the sale, the chief financial officer owned 14,035 shares in the company, valued at approximately $2,659,071.10. This trade represents a 18.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Miriam Anne Murphy sold 3,025 shares of TD SYNNEX stock in a transaction on 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 directly owned 10,820 shares of the company’s stock, valued at $2,165,514.80. This represents a 21.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 21,250 shares of company stock worth $4,935,282 in the last three months. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SNX. The Goldman Sachs Group lifted their target price on shares of TD SYNNEX from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Weiss Ratings downgraded shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 17th. Zacks Research downgraded shares of TD SYNNEX from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. UBS Group lifted their price objective on shares of TD SYNNEX from $265.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Finally, Barrington Research reissued an “outperform” rating on shares of TD SYNNEX in a report on Tuesday, June 16th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and a consensus price target of $249.80.

TD SYNNEX Trading Down 2.8%

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

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

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, April 15th. TD SYNNEX’s dividend payout ratio (DPR) is presently 15.96%.

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.