Redwood Investment Management LLC bought a new position in shares of TD SYNNEX Corporation (NYSE:SNX – Free Report) during the second quarter, Holdings Channel reports. The institutional investor bought 4,356 shares of the business services provider’s stock, valued at approximately $1,165,000.
A number of other large investors also recently modified their holdings of SNX. Gamco Investors INC. ET AL grew its holdings in shares of TD SYNNEX by 1.1% during the first quarter. Gamco Investors INC. ET AL now owns 4,667 shares of the business services provider’s stock valued at $787,000 after purchasing an additional 52 shares during the last quarter. Essex Financial Services Inc. boosted its position in TD SYNNEX by 2.9% during the 1st quarter. Essex Financial Services Inc. now owns 1,957 shares of the business services provider’s stock valued at $330,000 after purchasing an additional 56 shares during the period. Kesler Norman & Wride LLC grew its stake in TD SYNNEX by 0.7% during the 1st quarter. Kesler Norman & Wride LLC now owns 8,581 shares of the business services provider’s stock worth $1,448,000 after buying an additional 61 shares during the last quarter. SJS Investment Consulting Inc. increased its position in TD SYNNEX by 44.6% in the first quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider’s stock worth $34,000 after buying an additional 62 shares during the period. Finally, Ashton Thomas Private Wealth LLC lifted its stake in TD SYNNEX by 3.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,107 shares of the business services provider’s stock valued at $317,000 after buying an additional 71 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.
TD SYNNEX Stock Performance
Shares of NYSE SNX opened at $255.77 on Thursday. The stock has a fifty day moving average price of $255.96 and a two-hundred day moving average price of $222.13. 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 firm has a market cap of $20.45 billion, a P/E ratio of 18.31, a PEG ratio of 0.71 and a beta of 1.44. TD SYNNEX Corporation has a 1 year low of $142.22 and a 1 year high of $296.47.
TD SYNNEX Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were given a $0.48 dividend. The ex-dividend date was Friday, July 17th. This represents a $1.92 annualized dividend and a yield of 0.8%. TD SYNNEX’s payout ratio is 13.74%.
Wall Street Analyst Weigh In
Several research firms have recently commented on SNX. Zacks Research lowered shares of TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. The Goldman Sachs Group set a $330.00 price target on shares of TD SYNNEX in a research note on Friday, June 26th. Weiss Ratings cut TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research report 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. 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. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $294.67.
Check Out Our Latest Report on TD SYNNEX
Insider Transactions at TD SYNNEX
In other news, Director Ann F. Vezina sold 1,273 shares of TD SYNNEX stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $256.05, for a total value of $325,951.65. Following the transaction, the director owned 5,828 shares of the company’s stock, valued at $1,492,259.40. The trade was a 17.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard T. Hume sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $262.21, for a total transaction of $1,311,050.00. Following the completion of the sale, the director owned 13,537 shares in the company, valued at $3,549,536.77. The trade was a 26.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,273 shares of company stock valued at $4,253,752 over the last three months. 0.70% of the stock is owned by corporate insiders.
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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