Amalgamated Bank Sells 1,645 Shares of TD SYNNEX Corporation (NYSE:SNX)

Amalgamated Bank reduced its stake in shares of TD SYNNEX Corporation (NYSE:SNX) by 4.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,558 shares of the business services provider’s stock after selling 1,645 shares during the period. Amalgamated Bank’s holdings in TD SYNNEX were worth $3,593,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNX. Barclays PLC increased its stake in shares of TD SYNNEX by 20.1% in the fourth quarter. Barclays PLC now owns 97,617 shares of the business services provider’s stock valued at $11,448,000 after buying an additional 16,310 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of TD SYNNEX in the fourth quarter worth approximately $5,158,000. Sei Investments Co. boosted its holdings in TD SYNNEX by 25.5% in the fourth quarter. Sei Investments Co. now owns 70,745 shares of the business services provider’s stock valued at $8,297,000 after acquiring an additional 14,379 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in TD SYNNEX by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider’s stock valued at $59,512,000 after purchasing an additional 9,915 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in TD SYNNEX by 18.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,974 shares of the business services provider’s stock valued at $2,225,000 after purchasing an additional 2,969 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 TD SYNNEX news, CFO Marshall Witt sold 1,509 shares of the business’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total transaction of $189,153.15. Following the completion of the sale, the chief financial officer directly owned 49,563 shares of the company’s stock, valued at approximately $6,212,722.05. The trade was a 2.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard T. Hume sold 63,310 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $136.23, for a total value of $8,624,721.30. Following the completion of the transaction, the director owned 67,515 shares in the company, valued at $9,197,568.45. This represents a 48.39% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,819 shares of company stock valued at $9,143,874. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SNX shares. Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, June 27th. Loop Capital lifted their target price on shares of TD SYNNEX from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday. The Goldman Sachs Group cut their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Royal Bank Of Canada reiterated an “outperform” rating and set a $145.00 price target on shares of TD SYNNEX in a report on Wednesday, June 25th. Finally, Morgan Stanley set a $155.00 price objective on TD SYNNEX and gave the company an “overweight” rating in a research note on Wednesday, June 25th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.56.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $140.21 on Friday. The firm has a market capitalization of $11.77 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.15 and a beta of 1.30. The firm’s 50-day moving average price is $123.74 and its 200-day moving average price is $124.76. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. TD SYNNEX Corporation has a 1-year low of $92.23 and a 1-year high of $145.10.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.28. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The business had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same period in the prior year, the business earned $2.73 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts anticipate that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Friday, July 11th. TD SYNNEX’s payout ratio is currently 20.56%.

TD SYNNEX Company Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.