Havemeyer Place LP Takes $1.67 Million Position in TD SYNNEX Corporation $SNX

Havemeyer Place LP acquired a new position in shares of TD SYNNEX Corporation (NYSE:SNX) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 11,118 shares of the business services provider’s stock, valued at approximately $1,670,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Concentric Capital Strategies LP purchased a new position in TD SYNNEX during the third quarter worth approximately $18,036,000. Envestnet Asset Management Inc. lifted its position in TD SYNNEX by 11.1% during the third quarter. Envestnet Asset Management Inc. now owns 82,977 shares of the business services provider’s stock worth $13,587,000 after buying an additional 8,264 shares in the last quarter. Fieldview Capital Management LLC purchased a new position in TD SYNNEX during the third quarter worth approximately $1,318,000. Citigroup Inc. lifted its position in TD SYNNEX by 12.0% during the third quarter. Citigroup Inc. now owns 83,103 shares of the business services provider’s stock worth $13,608,000 after buying an additional 8,914 shares in the last quarter. Finally, Algert Global LLC purchased a new position in TD SYNNEX during the third quarter worth approximately $7,140,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling

In related news, CFO David Gregory Jordan sold 3,225 shares of the business’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 completion of the transaction, the chief financial officer directly owned 14,035 shares of the company’s stock, valued at $2,659,071.10. The trade was a 18.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard T. Hume sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $280.38, for a total value of $1,401,900.00. Following the transaction, the director directly owned 23,537 shares of the company’s stock, valued at $6,599,304.06. The trade was a 17.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 21,250 shares of company stock valued at $4,935,282 in the last three months. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on SNX. Royal Bank Of Canada lifted their target price on TD SYNNEX from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Zacks Research downgraded TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. JPMorgan Chase & Co. upgraded TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 target price on the stock in a research report on Wednesday, May 27th. Barrington Research restated an “outperform” rating and issued a $182.00 target price on shares of TD SYNNEX in a research report on Friday, March 27th. Finally, Weiss Ratings upgraded TD SYNNEX from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $212.60.

TD SYNNEX Trading Down 3.4%

SNX opened at $268.25 on Friday. TD SYNNEX Corporation has a 12 month low of $121.50 and a 12 month high of $286.25. The stock has a market capitalization of $21.56 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 1.16 and a beta of 1.43. 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 business has a fifty day moving average price of $222.16 and a 200 day moving average price of $178.64.

TD SYNNEX (NYSE:SNX) last released its earnings results on Tuesday, March 31st. The business services provider reported $4.73 EPS 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 analysts’ expectations of $15.59 billion. During the same period in the previous year, the firm posted $2.80 EPS. TD SYNNEX’s revenue for the quarter was up 18.1% on a year-over-year basis. Sell-side analysts expect that TD SYNNEX Corporation will post 15.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were paid 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 presently 15.96%.

TD SYNNEX Company 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.