Geode Capital Management LLC Acquires 99,090 Shares of TD SYNNEX Corporation $SNX

Geode Capital Management LLC grew its holdings in TD SYNNEX Corporation (NYSE:SNX) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,532,784 shares of the business services provider’s stock after purchasing an additional 99,090 shares during the period. Geode Capital Management LLC’s holdings in TD SYNNEX were worth $230,315,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ossiam increased its holdings 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 purchasing an additional 75 shares in the last quarter. Dorato Capital Management bought a new stake in shares of TD SYNNEX in the 4th quarter worth $27,000. Measured Wealth Private Client Group LLC bought a new stake in shares of TD SYNNEX in the 3rd quarter worth $30,000. Lloyd Advisory Services LLC. bought a new stake in shares of TD SYNNEX in the 4th quarter worth $32,000. Finally, Brown Brothers Harriman & Co. increased its holdings 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 purchasing an additional 196 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO David Gregory Jordan sold 3,225 shares of the business’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $189.46, for a total transaction of $611,008.50. Following the completion of the sale, the chief financial officer owned 14,035 shares of the company’s stock, valued at approximately $2,659,071.10. The trade was a 18.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard T. Hume sold 5,000 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $229.54, for a total value of $1,147,700.00. Following the sale, the director directly owned 28,537 shares of the company’s stock, valued at $6,550,382.98. This represents a 14.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 16,250 shares of company stock valued at $3,533,382. Company insiders own 0.70% of the company’s stock.

TD SYNNEX Stock Performance

SNX stock opened at $279.67 on Wednesday. The company 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 Corporation has a 1 year low of $118.90 and a 1 year high of $286.25. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. The stock’s fifty day moving average price is $212.80 and its 200-day moving average price is $175.31.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $15.59 billion. During the same period last year, the business posted $2.80 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, equities analysts forecast that TD SYNNEX Corporation will post 15.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently declared 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 0.7%. The ex-dividend date of this dividend was Wednesday, April 15th. TD SYNNEX’s payout ratio is currently 15.96%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of TD SYNNEX in a research note on Monday, May 4th. Barrington Research restated an “outperform” rating and issued a $182.00 price target on shares of TD SYNNEX in a research note on Friday, March 27th. UBS Group raised their price target on TD SYNNEX from $193.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Zacks Research upgraded TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 6th. Finally, Royal Bank Of Canada raised their price target on TD SYNNEX from $210.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, TD SYNNEX presently has an average rating of “Buy” and a consensus target price of $212.60.

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.