TD SYNNEX Corporation $SNX Position Boosted by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC raised its holdings in shares of TD SYNNEX Corporation (NYSE:SNX) by 34.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,520 shares of the business services provider’s stock after acquiring an additional 2,165 shares during the quarter. Kesler Norman & Wride LLC’s holdings in TD SYNNEX were worth $1,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dorato Capital Management purchased a new position in TD SYNNEX during the 4th quarter valued at about $27,000. Ossiam grew its stake in TD SYNNEX by 84.3% during the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in TD SYNNEX during the 3rd quarter valued at about $30,000. Lloyd Advisory Services LLC. purchased a new position in TD SYNNEX during the 4th quarter valued at about $32,000. Finally, Brown Brothers Harriman & Co. grew its stake in TD SYNNEX by 675.9% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Up 3.4%

SNX opened at $279.67 on Wednesday. The business has a 50 day moving average price of $212.80 and a 200 day moving average price of $175.31. TD SYNNEX Corporation has a twelve month low of $118.90 and a twelve month high of $286.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22. The firm has a market cap of $22.48 billion, a P/E ratio of 23.25, a price-to-earnings-growth ratio of 1.17 and a beta of 1.43.

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 the consensus estimate of $3.24 by $1.49. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The firm had revenue of $17.16 billion during the quarter, compared to analyst estimates of $15.59 billion. During the same period in the previous year, the company earned $2.80 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. Research analysts forecast that TD SYNNEX Corporation will post 15.88 EPS for the current year.

TD SYNNEX Dividend Announcement

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

Analyst Ratings Changes

SNX has been the subject of several recent research reports. Morgan Stanley boosted their price target on TD SYNNEX from $172.00 to $174.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. Wall Street Zen raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. UBS Group boosted their price target on TD SYNNEX from $193.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Royal Bank Of Canada boosted their price target on TD SYNNEX from $210.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group boosted their price target on TD SYNNEX from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, TD SYNNEX currently has an average rating of “Buy” and an average target price of $212.60.

Insider Transactions at TD SYNNEX

In other news, Director Richard T. Hume sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $229.54, for a total transaction of $1,147,700.00. Following the completion of the transaction, the director directly owned 28,537 shares in the company, valued at $6,550,382.98. The trade was a 14.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 that occurred 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 transaction, the insider owned 10,820 shares of the company’s stock, valued at approximately $2,165,514.80. This trade represents a 21.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,250 shares of company stock worth $3,533,382 over the last three months. 0.70% of the stock is currently owned by 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.