Cookson Peirce & Co. Inc. Has $4.83 Million Stock Position in TD SYNNEX Corporation $SNX

Cookson Peirce & Co. Inc. reduced its position in shares of TD SYNNEX Corporation (NYSE:SNX) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,135 shares of the business services provider’s stock after selling 1,925 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in TD SYNNEX were worth $4,828,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC raised its stake in TD SYNNEX by 3.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 2,107 shares of the business services provider’s stock worth $317,000 after buying an additional 71 shares during the period. Jones Financial Companies Lllp raised its stake in TD SYNNEX by 10.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 775 shares of the business services provider’s stock worth $127,000 after buying an additional 74 shares during the period. Ossiam raised its stake in TD SYNNEX by 84.3% during the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock worth $27,000 after buying an additional 75 shares during the period. BTC Capital Management Inc. raised its stake in TD SYNNEX by 3.1% during the 3rd quarter. BTC Capital Management Inc. now owns 2,996 shares of the business services provider’s stock worth $491,000 after buying an additional 91 shares during the period. Finally, US Bancorp DE raised its stake in TD SYNNEX by 1.5% during the 3rd quarter. US Bancorp DE now owns 6,457 shares of the business services provider’s stock worth $1,057,000 after buying an additional 96 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TD SYNNEX

In other news, Director Richard T. Hume sold 5,000 shares of the firm’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 completion of the transaction, the director directly owned 23,537 shares of the company’s stock, valued at $6,599,304.06. This trade represents a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Miriam Anne Murphy sold 3,025 shares of the firm’s stock in a transaction 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 completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 21,250 shares of company stock valued at $4,935,282. Company insiders own 0.70% of the company’s stock.

TD SYNNEX Stock Performance

Shares of SNX opened at $268.25 on Friday. 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 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 stock has a 50 day moving average of $222.16 and a 200 day moving average of $178.64. TD SYNNEX Corporation has a 12 month low of $121.50 and a 12 month high of $286.25.

TD SYNNEX (NYSE:SNX) last issued 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 the consensus estimate of $15.59 billion. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.TD SYNNEX’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the business posted $2.80 earnings per share. As a group, sell-side analysts forecast that TD SYNNEX Corporation will post 15.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were issued 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 dividend payout ratio is 15.96%.

Analysts Set New Price Targets

Several brokerages have recently commented on SNX. Barrington Research reissued an “outperform” rating and issued a $182.00 price objective on shares of TD SYNNEX in a research note on Friday, March 27th. Wall Street Zen raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Zacks Research downgraded TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Royal Bank Of Canada increased their price objective on TD SYNNEX from $210.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price objective for the company in a research note on Wednesday, May 27th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $212.60.

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.