Handelsbanken Fonder AB Increases Stake in TD SYNNEX Corporation $SNX

Handelsbanken Fonder AB increased its holdings in TD SYNNEX Corporation (NYSE:SNX) by 14.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 22,442 shares of the business services provider’s stock after acquiring an additional 2,900 shares during the period. Handelsbanken Fonder AB’s holdings in TD SYNNEX were worth $3,371,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its stake in shares of TD SYNNEX by 7.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 992,779 shares of the business services provider’s stock valued at $162,568,000 after purchasing an additional 71,249 shares in the last quarter. Concentric Capital Strategies LP bought a new stake in TD SYNNEX during the 3rd quarter valued at $18,036,000. Envestnet Asset Management Inc. raised its holdings in TD SYNNEX by 11.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 82,977 shares of the business services provider’s stock valued at $13,587,000 after buying an additional 8,264 shares during the last quarter. Fieldview Capital Management LLC bought a new stake in TD SYNNEX during the 3rd quarter valued at $1,318,000. Finally, Citigroup Inc. raised its holdings in TD SYNNEX by 12.0% during the 3rd quarter. Citigroup Inc. now owns 83,103 shares of the business services provider’s stock valued at $13,608,000 after buying an additional 8,914 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Up 2.8%

Shares of NYSE SNX opened at $237.30 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. TD SYNNEX Corporation has a 12 month low of $118.35 and a 12 month high of $242.49. The firm has a market capitalization of $19.08 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 1.04 and a beta of 1.40. The firm has a fifty day simple moving average of $201.21 and a two-hundred day simple moving average of $171.01.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, topping the consensus estimate of $3.24 by $1.49. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The business had revenue of $17.16 billion during the quarter, compared to analyst estimates of $15.59 billion. During the same period in the prior year, the business earned $2.80 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. Equities analysts expect that TD SYNNEX Corporation will post 15.69 earnings per share for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were issued a $0.48 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $1.92 annualized dividend and a yield of 0.8%. TD SYNNEX’s dividend payout ratio is 15.96%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Zacks Research upgraded shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Morgan Stanley upped their price target on shares of TD SYNNEX from $172.00 to $174.00 and gave the company an “overweight” rating in a report on Friday, March 20th. UBS Group upped their price target on shares of TD SYNNEX from $193.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. upped their price target on shares of TD SYNNEX from $185.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Finally, Royal Bank Of Canada upped their price target on shares of TD SYNNEX from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $197.70.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $229.54, for a total value of $1,147,700.00. Following the completion of the transaction, the director directly owned 28,537 shares in the company, valued at approximately $6,550,382.98. This represents a 14.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Gregory Jordan sold 3,225 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $189.46, for a total transaction of $611,008.50. Following the completion of the transaction, the chief financial officer owned 14,035 shares of the company’s stock, valued at $2,659,071.10. This trade represents a 18.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,417 shares of company stock valued at $3,559,726 over the last quarter. Company insiders own 0.70% of the company’s stock.

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.