SG Americas Securities LLC Acquires Shares of 9,856 TD SYNNEX Corporation (NYSE:SNX)

SG Americas Securities LLC bought a new position in shares of TD SYNNEX Corporation (NYSE:SNX) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,856 shares of the business services provider’s stock, valued at approximately $1,025,000.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in TD SYNNEX in the 4th quarter valued at about $121,199,000. Nuveen Asset Management LLC boosted its holdings in shares of TD SYNNEX by 343.2% in the fourth quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider’s stock valued at $141,913,000 after purchasing an additional 937,040 shares during the period. LSV Asset Management grew its stake in TD SYNNEX by 46.9% in the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider’s stock worth $201,235,000 after purchasing an additional 547,692 shares in the last quarter. Brave Warrior Advisors LLC increased its holdings in TD SYNNEX by 12.2% during the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock worth $486,380,000 after purchasing an additional 451,557 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in TD SYNNEX during the 4th quarter valued at $47,094,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SNX. Barrington Research restated an “outperform” rating and issued a $156.00 price objective on shares of TD SYNNEX in a report on Friday, April 11th. Morgan Stanley assumed coverage on shares of TD SYNNEX in a research report on Wednesday, June 11th. They issued an “overweight” rating and a $145.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on shares of TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Barclays dropped their target price on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Finally, Wall Street Zen lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $138.00.

TD SYNNEX Stock Performance

Shares of SNX opened at $125.89 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The firm has a market cap of $10.56 billion, a PE ratio of 15.72, a P/E/G ratio of 1.07 and a beta of 1.29. TD SYNNEX Corporation has a 12 month low of $92.23 and a 12 month high of $145.10. The stock has a fifty day moving average price of $116.98 and a 200-day moving average price of $123.94.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.16% and a return on equity of 11.54%. The business had revenue of $14.53 billion during the quarter, compared to analysts’ expectations of $14.79 billion. During the same quarter last year, the business posted $2.99 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts predict that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Friday, April 11th. TD SYNNEX’s payout ratio is 21.97%.

Insider Buying and Selling

In other news, insider Miriam Anne Murphy sold 3,000 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the sale, the insider now owns 14,883 shares in the company, valued at $1,637,130. This represents a 16.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

TD SYNNEX Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.