Rockefeller Capital Management L.P. Sells 39,871 Shares of TD SYNNEX Corporation $SNX

Rockefeller Capital Management L.P. reduced its stake in TD SYNNEX Corporation (NYSE:SNX) by 32.9% during the fourth quarter, HoldingsChannel reports. The firm owned 81,239 shares of the business services provider’s stock after selling 39,871 shares during the period. Rockefeller Capital Management L.P.’s holdings in TD SYNNEX were worth $12,205,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SNX. Dorato Capital Management purchased a new position in TD SYNNEX in the 4th quarter worth approximately $27,000. Ossiam raised its position in shares of 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 buying an additional 75 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of TD SYNNEX during the 4th quarter worth $28,000. Measured Wealth Private Client Group LLC bought a new stake in shares of TD SYNNEX during the 3rd quarter worth $30,000. Finally, Lloyd Advisory Services LLC. purchased a new position in TD SYNNEX in the fourth quarter worth $32,000. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Stock Down 2.8%

Shares of TD SYNNEX stock opened at $282.13 on Thursday. 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 Corporation has a 52-week low of $133.71 and a 52-week high of $296.47. The company’s 50 day moving average price is $247.10 and its 200-day moving average price is $190.78. The stock has a market capitalization of $22.68 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 1.19 and a beta of 1.43.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, beating analysts’ consensus estimates 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 was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.80 EPS. Equities research analysts forecast that TD SYNNEX Corporation will post 15.88 EPS for the current year.

TD SYNNEX Dividend Announcement

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

Insider Transactions at TD SYNNEX

In related 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 transaction, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Miriam Anne Murphy sold 3,025 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $200.14, for a total value of $605,423.50. Following the transaction, the insider directly owned 10,820 shares of the company’s stock, valued at $2,165,514.80. The trade was a 21.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 21,250 shares of company stock worth $4,935,282. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SNX shares. Zacks Research cut TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Royal Bank Of Canada lifted their price target on TD SYNNEX from $250.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 10th. Barclays upped their price objective on TD SYNNEX from $166.00 to $237.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Barrington Research reiterated an “outperform” rating on shares of TD SYNNEX in a research report on Tuesday, June 16th. Finally, Morgan Stanley raised their price objective on TD SYNNEX from $271.00 to $341.00 and gave the company an “overweight” rating in a report on Tuesday. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $249.80.

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.