Natixis Advisors LLC Sells 23,153 Shares of TD SYNNEX Corporation $SNX

Natixis Advisors LLC lowered its position in shares of TD SYNNEX Corporation (NYSE:SNX) by 31.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,613 shares of the business services provider’s stock after selling 23,153 shares during the quarter. Natixis Advisors LLC owned about 0.06% of TD SYNNEX worth $7,753,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of SNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in TD SYNNEX by 9.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider’s stock valued at $1,749,000 after acquiring an additional 1,460 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in TD SYNNEX by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock valued at $18,631,000 after acquiring an additional 9,815 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of TD SYNNEX by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock worth $21,226,000 after purchasing an additional 12,615 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of TD SYNNEX during the 2nd quarter worth about $818,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of TD SYNNEX by 17.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 852 shares of the business services provider’s stock worth $116,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Trading Down 0.2%

SNX opened at $268.25 on Monday. 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 Corporation has a fifty-two week low of $121.50 and a fifty-two week high of $286.25. The firm has a market capitalization of $21.56 billion, a PE ratio of 22.30, a P/E/G ratio of 1.16 and a beta of 1.43. The company’s 50-day moving average is $222.16 and its 200 day moving average is $178.86.

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

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, April 15th. TD SYNNEX’s dividend payout ratio is currently 15.96%.

Analyst Upgrades and Downgrades

SNX has been the topic of a number of research analyst reports. Morgan Stanley increased 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. Wall Street Zen raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Weiss Ratings raised shares of TD SYNNEX from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, June 2nd. UBS Group increased their price objective on shares of TD SYNNEX from $193.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Barrington Research reissued an “outperform” rating and set a $182.00 price objective on shares of TD SYNNEX in a research report on Friday, March 27th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $212.60.

Insider Buying and Selling

In related news, Director Richard T. Hume sold 5,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $280.38, for a total value of $1,401,900.00. Following the sale, the director owned 23,537 shares in the company, valued at $6,599,304.06. This represents a 17.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Miriam Anne Murphy sold 3,025 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $200.14, for a total transaction of $605,423.50. Following the completion of the sale, the insider owned 10,820 shares in the company, valued at $2,165,514.80. This represents a 21.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,250 shares of company stock worth $4,935,282 in the last quarter. Insiders own 0.70% of the company’s stock.

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.