LSV Asset Management Increases Holdings in TD SYNNEX Corporation $SNX

LSV Asset Management increased its holdings in shares of TD SYNNEX Corporation (NYSE:SNX) by 16.1% in the fourth quarter, Holdings Channel reports. The firm owned 2,086,604 shares of the business services provider’s stock after acquiring an additional 288,625 shares during the period. LSV Asset Management’s holdings in TD SYNNEX were worth $313,471,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ossiam grew its holdings 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 purchasing an additional 75 shares in the last quarter. Dorato Capital Management acquired a new stake in TD SYNNEX during the 4th quarter valued at $27,000. Measured Wealth Private Client Group LLC acquired a new stake in TD SYNNEX during the 3rd quarter valued at $30,000. Brown Brothers Harriman & Co. grew its holdings 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 purchasing an additional 196 shares in the last quarter. Finally, Root Financial Partners LLC acquired a new stake in TD SYNNEX during the 3rd quarter valued at $42,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of TD SYNNEX from $180.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Royal Bank Of Canada raised their price target on shares of TD SYNNEX from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Barclays raised their price target on shares of TD SYNNEX from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, April 1st. Morgan Stanley raised their price target on shares of TD SYNNEX from $172.00 to $174.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Finally, UBS Group raised their price target on shares of TD SYNNEX from $193.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $197.70.

TD SYNNEX Price Performance

Shares of SNX stock opened at $237.30 on Friday. The firm has a market cap of $19.08 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.01 and a beta of 1.40. 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 1-year low of $118.35 and a 1-year high of $242.49. The firm has a fifty day moving average of $201.21 and a two-hundred day moving average of $171.01.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data 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. The company had revenue of $17.16 billion during 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 revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the business earned $2.80 EPS. As a group, research analysts anticipate that TD SYNNEX Corporation will post 15.69 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, April 15th. TD SYNNEX’s dividend payout ratio (DPR) is currently 15.96%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were 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 of the company’s stock, valued at $6,550,382.98. This trade represents a 14.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Gregory Jordan sold 3,225 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 16,417 shares of company stock valued at $3,559,726 in the last 90 days. 0.70% of the stock is currently owned by insiders.

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.