Globeflex Capital L P Acquires 29,766 Shares of TD SYNNEX Corporation $SNX

Globeflex Capital L P grew its holdings in shares of TD SYNNEX Corporation (NYSE:SNX) by 545.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,224 shares of the business services provider’s stock after buying an additional 29,766 shares during the quarter. Globeflex Capital L P’s holdings in TD SYNNEX were worth $5,292,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. State of Wyoming grew its stake in shares of TD SYNNEX by 712.7% during the fourth quarter. State of Wyoming now owns 1,536 shares of the business services provider’s stock valued at $231,000 after buying an additional 1,347 shares during the last quarter. Sivia Capital Partners LLC bought a new position in TD SYNNEX in the fourth quarter worth approximately $412,000. Goldman Sachs Group Inc. grew its stake in TD SYNNEX by 53.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 262,413 shares of the business services provider’s stock worth $39,422,000 after purchasing an additional 91,745 shares in the last quarter. Kesler Norman & Wride LLC grew its stake in TD SYNNEX by 34.1% in the fourth quarter. Kesler Norman & Wride LLC now owns 8,520 shares of the business services provider’s stock worth $1,280,000 after purchasing an additional 2,165 shares in the last quarter. Finally, AXQ Capital LP bought a new position in TD SYNNEX in the fourth quarter worth approximately $961,000. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Trading Down 0.6%

Shares of NYSE SNX opened at $277.69 on Friday. TD SYNNEX Corporation has a 1-year low of $120.19 and a 1-year high of $286.25. The business has a fifty day moving average price of $220.07 and a 200 day moving average price of $178.01. The stock has a market capitalization of $22.32 billion, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 1.20 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71.

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

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a yield of 0.7%. TD SYNNEX’s dividend payout ratio (DPR) is presently 15.96%.

Analyst Ratings Changes

Several research analysts recently issued reports on SNX shares. JPMorgan Chase & Co. raised TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price objective on the stock in a research note on Wednesday, May 27th. The Goldman Sachs Group increased their price objective on TD SYNNEX from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Barclays increased their price objective on TD SYNNEX from $166.00 to $237.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Wall Street Zen raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Zacks Research cut TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research note on Monday. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $212.60.

Insider Activity at TD SYNNEX

In related news, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was 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 $6,599,304.06. This trade represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Gregory Jordan sold 3,225 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $189.46, for a total value of $611,008.50. Following the sale, the chief financial officer directly owned 14,035 shares in the company, valued at approximately $2,659,071.10. The trade was a 18.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,250 shares of company stock valued at $4,935,282 over the last quarter. 0.70% of the stock is owned by corporate insiders.

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.