Oppenheimer Asset Management Inc. Has $836,000 Stock Position in TD SYNNEX Corporation (NYSE:SNX)

Oppenheimer Asset Management Inc. boosted its position in TD SYNNEX Corporation (NYSE:SNX) by 1.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 8,041 shares of the business services provider’s stock after purchasing an additional 148 shares during the period. Oppenheimer Asset Management Inc.’s holdings in TD SYNNEX were worth $836,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of SNX. Cambridge Investment Research Advisors Inc. lifted its stake in shares of TD SYNNEX by 11.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,361 shares of the business services provider’s stock worth $765,000 after buying an additional 785 shares during the last quarter. Guyasuta Investment Advisors Inc. lifted its position in TD SYNNEX by 5.4% during the first quarter. Guyasuta Investment Advisors Inc. now owns 6,900 shares of the business services provider’s stock worth $717,000 after acquiring an additional 355 shares during the last quarter. Friedenthal Financial acquired a new stake in TD SYNNEX during the first quarter worth approximately $902,000. State of Alaska Department of Revenue lifted its position in TD SYNNEX by 39.9% during the first quarter. State of Alaska Department of Revenue now owns 49,839 shares of the business services provider’s stock worth $5,180,000 after acquiring an additional 14,205 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC acquired a new stake in TD SYNNEX during the first quarter worth approximately $295,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Stock Down 1.7%

Shares of NYSE SNX opened at $134.72 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. TD SYNNEX Corporation has a 52 week low of $92.23 and a 52 week high of $145.10. The firm’s fifty day moving average is $121.26 and its 200 day moving average is $124.39. The company has a market cap of $11.31 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.13 and a beta of 1.29.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.28. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The business had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same period in the previous year, the firm earned $2.73 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts expect that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Friday, July 11th. TD SYNNEX’s payout ratio is 20.56%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,509 shares of the business’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total transaction of $189,153.15. Following the completion of the sale, the chief financial officer now directly owns 49,563 shares in the company, valued at $6,212,722.05. The trade was a 2.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Miriam Anne Murphy sold 3,000 shares of the company’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the transaction, the insider now directly owns 14,883 shares of the company’s stock, valued at approximately $1,637,130. This trade represents a 16.78% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SNX. Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday. The Goldman Sachs Group dropped their price objective on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a report on Friday, March 28th. Barclays set a $140.00 price objective on TD SYNNEX in a report on Tuesday. Barrington Research reaffirmed an “outperform” rating and issued a $156.00 price target on shares of TD SYNNEX in a research note on Monday, June 23rd. Finally, Cfra dropped their price target on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $141.44.

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.