River Road Asset Management LLC Sells 9,497 Shares of TD SYNNEX Corporation $SNX

River Road Asset Management LLC lowered its stake in TD SYNNEX Corporation (NYSE:SNX) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 294,112 shares of the business services provider’s stock after selling 9,497 shares during the quarter. River Road Asset Management LLC owned about 0.36% of TD SYNNEX worth $44,184,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Virtu Financial LLC grew its stake in shares of TD SYNNEX by 25.3% during the fourth quarter. Virtu Financial LLC now owns 2,008 shares of the business services provider’s stock worth $302,000 after purchasing an additional 405 shares during the period. Invesco Ltd. lifted its stake in TD SYNNEX by 5.3% in the fourth quarter. Invesco Ltd. now owns 741,328 shares of the business services provider’s stock valued at $111,370,000 after buying an additional 37,305 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in TD SYNNEX by 230.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,490 shares of the business services provider’s stock worth $975,000 after buying an additional 4,526 shares during the last quarter. Vident Advisory LLC grew its position in shares of TD SYNNEX by 28.2% during the 4th quarter. Vident Advisory LLC now owns 34,926 shares of the business services provider’s stock worth $5,247,000 after buying an additional 7,687 shares during the period. Finally, EP Wealth Advisors LLC bought a new stake in shares of TD SYNNEX in the 4th quarter valued at about $760,000. 84.00% of the stock is currently owned by institutional investors.

Insider Transactions at TD SYNNEX

In other news, insider Miriam Anne Murphy sold 3,025 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $200.14, for a total transaction of $605,423.50. Following the completion of the transaction, the insider directly 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 the SEC website. Also, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $280.38, for a total value of $1,401,900.00. Following the completion of the sale, the director directly owned 23,537 shares in the company, valued at approximately $6,599,304.06. This represents a 17.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 21,250 shares of company stock worth $4,935,282 in the last three months. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays upped their target price on shares of TD SYNNEX from $166.00 to $237.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Wall Street Zen upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. JPMorgan Chase & Co. upgraded TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price objective on the stock in a report on Wednesday, May 27th. Weiss Ratings downgraded shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday. Finally, Morgan Stanley upped their price target on shares of TD SYNNEX from $172.00 to $174.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $233.10.

TD SYNNEX Trading Up 0.3%

NYSE:SNX opened at $284.60 on Friday. The company has a market cap of $22.88 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 1.17 and a beta of 1.43. TD SYNNEX Corporation has a twelve month low of $123.28 and a twelve month high of $291.01. The business has a 50 day moving average price of $240.42 and a two-hundred day moving average price of $187.07. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 0.41.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $1.49. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The company 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 company earned $2.80 earnings per share. The firm’s revenue was up 18.1% compared to the same quarter last year. As a group, analysts expect that TD SYNNEX Corporation will post 15.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

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

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.