Los Angeles Capital Management LLC lifted its position in TD SYNNEX Corporation (NYSE:SNX – Free Report) by 395.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,030 shares of the business services provider’s stock after acquiring an additional 119,742 shares during the quarter. Los Angeles Capital Management LLC’s holdings in TD SYNNEX were worth $23,322,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Dorato Capital Management acquired a new stake in TD SYNNEX in the fourth quarter worth $27,000. Ossiam boosted its holdings in shares of TD SYNNEX by 84.3% during the third quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of TD SYNNEX during the third quarter valued at $30,000. Lloyd Advisory Services LLC. acquired a new position in shares of TD SYNNEX during the fourth quarter valued at $32,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of TD SYNNEX by 675.9% during the third quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 196 shares during the period. 84.00% of the stock is currently owned by institutional investors.
Insider Buying and Selling at TD SYNNEX
In other news, insider Miriam Anne Murphy sold 3,025 shares of the business’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $200.14, for a total value of $605,423.50. Following the sale, the insider owned 10,820 shares of the company’s stock, valued at approximately $2,165,514.80. The trade was a 21.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Gregory Jordan sold 3,225 shares of the business’s 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 completion of the sale, the chief financial officer directly owned 14,035 shares in the company, valued at $2,659,071.10. This represents a 18.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,250 shares of company stock valued at $4,935,282 in the last quarter. Corporate insiders own 0.70% of the company’s stock.
TD SYNNEX Stock Down 0.2%
TD SYNNEX (NYSE:SNX – Get Free Report) last announced its earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 14.03% and a net margin of 1.52%.The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.80 EPS. As a group, research analysts forecast that TD SYNNEX Corporation will post 15.88 EPS for the current year.
TD SYNNEX Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.92 annualized dividend and a yield of 0.7%. TD SYNNEX’s payout ratio is presently 15.96%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price target for the company in a report on Wednesday, May 27th. Barrington Research reissued an “outperform” rating and set a $182.00 price target on shares of TD SYNNEX in a report on Friday, March 27th. Barclays boosted their price target on shares of TD SYNNEX from $166.00 to $237.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Weiss Ratings raised shares of TD SYNNEX from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, June 2nd. Finally, UBS Group boosted 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. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, TD SYNNEX has a consensus rating of “Moderate Buy” and a consensus target price of $212.60.
Read Our Latest Stock Analysis on TD SYNNEX
TD SYNNEX 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.
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