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

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

Other hedge funds and other institutional investors also recently modified their holdings of the company. Concentric Capital Strategies LP acquired a new position in shares of TD SYNNEX in the third quarter valued at $18,036,000. Fieldview Capital Management LLC bought a new position in shares of TD SYNNEX in the third quarter valued at about $1,318,000. Citigroup Inc. lifted its stake in shares of TD SYNNEX by 12.0% during the 3rd quarter. Citigroup Inc. now owns 83,103 shares of the business services provider’s stock worth $13,608,000 after buying an additional 8,914 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of TD SYNNEX by 38.4% during the 4th quarter. Intech Investment Management LLC now owns 21,578 shares of the business services provider’s stock worth $3,242,000 after buying an additional 5,982 shares during the period. Finally, Algert Global LLC bought a new stake in shares of TD SYNNEX during the 3rd quarter worth about $7,140,000. Institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling

In other TD SYNNEX 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 transaction of $1,401,900.00. Following the transaction, the director owned 23,537 shares in the company, valued at $6,599,304.06. This trade represents a 17.52% decrease in their position. 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 TD SYNNEX stock in a transaction 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 completion of the transaction, the insider directly owned 10,820 shares of the company’s stock, valued at $2,165,514.80. This represents a 21.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,250 shares of company stock valued at $4,935,282 over the last 90 days. 0.70% of the stock is owned by corporate insiders.

TD SYNNEX Price Performance

NYSE:SNX opened at $284.60 on Friday. TD SYNNEX Corporation has a 52 week low of $123.28 and a 52 week high of $291.01. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22. The firm’s 50-day simple moving average is $240.42 and its 200 day simple moving average is $187.07. The firm has a market cap of $22.88 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 1.17 and a beta of 1.43.

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 firm had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $15.59 billion. During the same quarter in the previous year, the firm posted $2.80 EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, sell-side analysts predict that TD SYNNEX Corporation will post 15.88 earnings per share for the current 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. This represents a $1.92 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, April 15th. TD SYNNEX’s payout ratio is 15.96%.

Analysts Set New Price Targets

SNX has been the topic of several research analyst reports. Wall Street Zen raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Barrington Research restated an “outperform” rating on shares of TD SYNNEX in a report on Tuesday. Royal Bank Of Canada upped their target price on TD SYNNEX from $250.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday, June 10th. 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 note on Friday, May 29th. Finally, Weiss Ratings downgraded TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $233.10.

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.