Kennedy Capital Management LLC Sells 17,671 Shares of TD SYNNEX Corporation $SNX

Kennedy Capital Management LLC decreased its holdings in shares of TD SYNNEX Corporation (NYSE:SNX) by 11.4% in the fourth quarter, HoldingsChannel reports. The firm owned 137,877 shares of the business services provider’s stock after selling 17,671 shares during the quarter. Kennedy Capital Management LLC’s holdings in TD SYNNEX were worth $20,713,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp raised its position 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 valued at $388,535,000 after purchasing an additional 9,024 shares during the last quarter. Ninety One UK Ltd raised its position 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 valued at $334,876,000 after purchasing an additional 258,630 shares during the last quarter. LSV Asset Management raised its position in TD SYNNEX by 16.1% during the 4th quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider’s stock valued at $313,471,000 after purchasing an additional 288,625 shares during the last quarter. Geode Capital Management LLC raised its position in TD SYNNEX by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider’s stock valued at $230,315,000 after purchasing an additional 99,090 shares during the last quarter. Finally, Nuveen LLC raised its position in TD SYNNEX by 3.8% during the 4th quarter. Nuveen LLC now owns 1,136,085 shares of the business services provider’s stock valued at $170,674,000 after purchasing an additional 41,679 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Up 1.4%

Shares of NYSE:SNX opened at $280.91 on Friday. TD SYNNEX Corporation has a 52-week low of $122.96 and a 52-week high of $286.25. The firm has a market capitalization of $22.58 billion, a P/E ratio of 23.35, a P/E/G ratio of 1.21 and a beta of 1.43. The stock has a 50 day moving average price of $232.97 and a 200-day moving average price of $183.13. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (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 analyst estimates of $15.59 billion. During the same quarter in the prior year, the company earned $2.80 EPS. The business’s revenue was up 18.1% compared to the same quarter last year. As a group, equities research analysts anticipate that TD SYNNEX Corporation will post 15.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have commented on SNX. Weiss Ratings raised TD SYNNEX from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, June 2nd. Royal Bank Of Canada upped their price target on TD SYNNEX from $250.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays increased their target price on TD SYNNEX from $166.00 to $237.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. The Goldman Sachs Group increased their target price on TD SYNNEX from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wall Street Zen raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $233.10.

Insider Buying and Selling

In related news, 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 sale, the insider owned 10,820 shares in the company, valued at $2,165,514.80. This represents a 21.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David Gregory Jordan sold 3,225 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $189.46, for a total value of $611,008.50. Following the completion of the sale, the chief financial officer owned 14,035 shares in the company, valued at $2,659,071.10. The trade was a 18.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,250 shares of company stock worth $4,935,282 in the last 90 days. Insiders own 0.70% of the company’s stock.

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.