TD SYNNEX Corporation $SNX Shares Sold by Delphi Management Inc. MA

Delphi Management Inc. MA trimmed its holdings in shares of TD SYNNEX Corporation (NYSE:SNX) by 19.8% in the first quarter, Holdings Channel.com reports. The firm owned 7,922 shares of the business services provider’s stock after selling 1,955 shares during the quarter. TD SYNNEX makes up 1.6% of Delphi Management Inc. MA’s holdings, making the stock its 6th largest holding. Delphi Management Inc. MA’s holdings in TD SYNNEX were worth $1,337,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Concentric Capital Strategies LP bought a new stake in TD SYNNEX in the 3rd quarter valued at approximately $18,036,000. Fieldview Capital Management LLC bought a new position in shares of TD SYNNEX during the 3rd quarter worth approximately $1,318,000. Citigroup Inc. raised its holdings in shares of TD SYNNEX by 12.0% in the third quarter. Citigroup Inc. now owns 83,103 shares of the business services provider’s stock valued at $13,608,000 after purchasing an additional 8,914 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of TD SYNNEX by 38.4% in the fourth quarter. Intech Investment Management LLC now owns 21,578 shares of the business services provider’s stock valued at $3,242,000 after purchasing an additional 5,982 shares during the last quarter. Finally, Algert Global LLC bought a new stake in shares of TD SYNNEX in the third quarter worth $7,140,000. Institutional investors own 84.00% of the company’s stock.

Insider Activity at TD SYNNEX

In related news, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $280.38, for a total transaction of $1,401,900.00. Following the completion of the transaction, the director owned 23,537 shares in the company, valued at approximately $6,599,304.06. This trade represents a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 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 transaction, the chief financial officer directly owned 14,035 shares in the company, valued at approximately $2,659,071.10. This trade represents a 18.68% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 21,250 shares of company stock worth $4,935,282. Insiders own 0.70% of the company’s stock.

TD SYNNEX Price Performance

Shares of SNX opened at $282.13 on Thursday. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $247.10 and its 200 day simple moving average is $190.78. TD SYNNEX Corporation has a 1-year low of $133.71 and a 1-year high of $296.47. The company has a market cap of $22.68 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 1.19 and a beta of 1.43.

TD SYNNEX (NYSE:SNX) last announced 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. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The firm had revenue of $17.16 billion during the quarter, compared to analysts’ expectations of $15.59 billion. During the same quarter last year, the company posted $2.80 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, research analysts forecast that TD SYNNEX Corporation will post 15.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on SNX shares. Weiss Ratings downgraded shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 17th. Zacks Research cut shares of TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Morgan Stanley increased their price objective on shares of TD SYNNEX from $271.00 to $341.00 and gave the stock an “overweight” rating in a research note on Tuesday. Royal Bank Of Canada raised their price objective on TD SYNNEX from $250.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, June 10th. Finally, Barclays lifted their target price on TD SYNNEX from $166.00 to $237.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $249.80.

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.