TD SYNNEX Corporation $SNX Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. increased its stake in shares of TD SYNNEX Corporation (NYSE:SNX) by 438.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,759 shares of the business services provider’s stock after acquiring an additional 14,459 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in TD SYNNEX were worth $2,668,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp raised its stake in TD SYNNEX by 0.4% during the 3rd quarter. State Street Corp now owns 2,372,733 shares of the business services provider’s stock worth $388,535,000 after acquiring an additional 9,024 shares in the last quarter. Ninety One UK Ltd raised its stake in TD SYNNEX by 13.1% during the 4th quarter. Ninety One UK Ltd now owns 2,229,091 shares of the business services provider’s stock worth $334,876,000 after acquiring an additional 258,630 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in TD SYNNEX by 0.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,000,942 shares of the business services provider’s stock worth $150,371,000 after acquiring an additional 8,163 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in TD SYNNEX in the third quarter valued at $135,631,000. Finally, Victory Capital Management Inc. increased its stake in TD SYNNEX by 123.6% in the third quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider’s stock valued at $119,263,000 after purchasing an additional 402,573 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TD SYNNEX

In related news, 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 transaction of $1,147,700.00. Following the sale, the director owned 28,537 shares of the company’s stock, valued at approximately $6,550,382.98. The trade was a 14.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the chief financial officer directly owned 14,035 shares in the company, valued at approximately $2,659,071.10. This represents a 18.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 16,417 shares of company stock worth $3,559,726 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of TD SYNNEX in a research note on Monday, May 4th. Royal Bank Of Canada lifted their price objective on shares of TD SYNNEX from $210.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Barrington Research restated an “outperform” rating and issued a $182.00 price objective on shares of TD SYNNEX in a research note on Friday, March 27th. JPMorgan Chase & Co. lifted their price objective on shares of TD SYNNEX from $185.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Finally, Barclays lifted their price objective on shares of TD SYNNEX from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $197.70.

TD SYNNEX Stock Down 0.0%

SNX stock opened at $237.30 on Tuesday. The company has a market cap of $19.08 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.04 and a beta of 1.40. TD SYNNEX Corporation has a 52 week low of $118.35 and a 52 week high of $242.49. The company’s 50-day moving average price is $202.89 and its 200 day moving average price is $171.74. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $1.49. The firm had revenue of $17.16 billion for the quarter, compared to the consensus estimate 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 was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.80 earnings per share. On average, research analysts expect that TD SYNNEX Corporation will post 15.69 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

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

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.