TD SYNNEX Corporation $SNX Shares Acquired by Truist Financial Corp

Truist Financial Corp lifted its stake in shares of TD SYNNEX Corporation (NYSE:SNX) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,651 shares of the business services provider’s stock after purchasing an additional 2,157 shares during the quarter. Truist Financial Corp’s holdings in TD SYNNEX were worth $4,304,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dorato Capital Management purchased a new stake in shares of TD SYNNEX in the 4th quarter worth about $27,000. Ossiam boosted its position in shares of TD SYNNEX by 84.3% in the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock worth $27,000 after buying an additional 75 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in shares of TD SYNNEX in the 3rd quarter worth about $30,000. Brown Brothers Harriman & Co. boosted its position in shares of TD SYNNEX by 675.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider’s stock worth $37,000 after buying an additional 196 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of TD SYNNEX in the 3rd quarter worth about $42,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Merline Saintil sold 167 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $157.75, for a total transaction of $26,344.25. Following the completion of the transaction, the director owned 6,995 shares of the company’s stock, valued at $1,103,461.25. This represents a 2.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David Gregory Jordan sold 3,225 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $189.46, for a total transaction of $611,008.50. Following the transaction, the chief financial officer directly owned 14,035 shares of the company’s stock, valued at approximately $2,659,071.10. This represents 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 11,417 shares of company stock valued at $2,412,026 in the last 90 days. Company insiders own 0.70% of the company’s stock.

TD SYNNEX Price Performance

NYSE:SNX opened at $239.41 on Monday. The firm has a market cap of $19.25 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 1.04 and a beta of 1.40. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average is $184.68 and its two-hundred day moving average is $165.10. TD SYNNEX Corporation has a 12-month low of $117.45 and a 12-month high of $240.47.

TD SYNNEX (NYSE:SNX) last released its earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $1.49. The company had revenue of $17.16 billion for the quarter, compared to analyst estimates of $15.59 billion. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.80 EPS. Research analysts expect that TD SYNNEX Corporation will post 15.69 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, April 15th. TD SYNNEX’s dividend payout ratio is 15.96%.

Analyst Ratings Changes

Several equities research analysts recently commented on SNX shares. Zacks Research upgraded shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. JPMorgan Chase & Co. boosted their price objective on shares of TD SYNNEX from $185.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Royal Bank Of Canada boosted their price objective on shares of TD SYNNEX from $210.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Morgan Stanley boosted their price objective on shares of TD SYNNEX from $172.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Finally, Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and an average target price of $197.70.

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.