Northwestern Mutual Wealth Management Co. acquired a new position in shares of TD SYNNEX Corporation (NYSE:SNX – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,356 shares of the business services provider’s stock, valued at approximately $897,000.
Several other large investors also recently made changes to their positions in SNX. Bell Investment Advisors Inc acquired a new position in shares of TD SYNNEX during the 2nd quarter valued at $27,000. Ossiam raised its position in TD SYNNEX by 84.3% in the third quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 75 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in TD SYNNEX in the fourth quarter valued at about $28,000. Measured Wealth Private Client Group LLC acquired a new position in shares of TD SYNNEX during the third quarter worth about $30,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of TD SYNNEX during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 84.00% of the company’s stock.
TD SYNNEX Stock Up 3.4%
Shares of NYSE SNX opened at $251.88 on Wednesday. TD SYNNEX Corporation has a 1 year low of $142.22 and a 1 year high of $296.47. The firm has a market cap of $20.14 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 0.69 and a beta of 1.44. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.20. The stock’s 50-day simple moving average is $256.53 and its 200-day simple moving average is $221.49.
TD SYNNEX Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, July 17th. TD SYNNEX’s dividend payout ratio is 13.74%.
Insider Activity at TD SYNNEX
In other news, Director Ann F. Vezina sold 1,273 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $256.05, for a total transaction of $325,951.65. Following the completion of the sale, the director owned 5,828 shares of the company’s stock, valued at approximately $1,492,259.40. This trade represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction on Monday, July 6th. The stock was sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the completion of the sale, the director owned 18,537 shares of the company’s stock, valued at approximately $4,503,934.89. This trade represents a 21.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 16,273 shares of company stock valued at $4,253,752. Company insiders own 0.70% of the company’s stock.
Analyst Upgrades and Downgrades
SNX has been the subject of a number of recent research reports. Weiss Ratings lowered TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 17th. Royal Bank Of Canada set a $340.00 price target on TD SYNNEX in a research report on Friday, June 26th. Zacks Research upgraded TD SYNNEX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. The Goldman Sachs Group set a $330.00 price objective on shares of TD SYNNEX in a research report on Friday, June 26th. Finally, Barrington Research lifted their price objective on shares of TD SYNNEX from $202.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, TD SYNNEX has a consensus rating of “Buy” and an average target price of $294.67.
Read Our Latest Research Report on SNX
About TD SYNNEX
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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