Covestor Ltd Increases Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Covestor Ltd boosted its stake in TD SYNNEX Co. (NYSE:SNX) by 31.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,658 shares of the business services provider’s stock after acquiring an additional 393 shares during the quarter. Covestor Ltd’s holdings in TD SYNNEX were worth $188,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNX. Pacer Advisors Inc. lifted its position in shares of TD SYNNEX by 33,158.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock valued at $143,767,000 after acquiring an additional 1,331,988 shares in the last quarter. Vanguard Group Inc. boosted its stake in TD SYNNEX by 23.4% during the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock worth $751,143,000 after purchasing an additional 1,261,474 shares during the last quarter. Norges Bank purchased a new stake in shares of TD SYNNEX during the fourth quarter worth $79,506,000. Lord Abbett & CO. LLC acquired a new stake in shares of TD SYNNEX in the first quarter valued at about $57,981,000. Finally, Nordea Investment Management AB raised its holdings in TD SYNNEX by 38.5% in the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock valued at $172,081,000 after acquiring an additional 421,908 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Up 0.1 %

Shares of SNX traded up $0.08 during mid-day trading on Tuesday, reaching $117.86. The company’s stock had a trading volume of 169,141 shares, compared to its average volume of 895,027. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78. TD SYNNEX Co. has a 12-month low of $89.73 and a 12-month high of $133.85. The stock has a market cap of $10.07 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.14 and a beta of 1.52. The company’s 50 day moving average is $123.29 and its 200 day moving average is $113.53.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.66 by ($0.05). The firm had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $14.12 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. Equities analysts anticipate that TD SYNNEX Co. will post 11.24 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Friday, July 12th. TD SYNNEX’s dividend payout ratio is currently 22.41%.

Wall Street Analysts Forecast Growth

SNX has been the subject of a number of analyst reports. Barrington Research reissued an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a report on Wednesday, June 26th. Royal Bank of Canada upgraded TD SYNNEX from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $135.00 to $140.00 in a research report on Monday, July 15th. UBS Group increased their price target on TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. JPMorgan Chase & Co. reduced their price objective on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Finally, Bank of America lowered their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.33.

Insider Buying and Selling at TD SYNNEX

In other news, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at $15,580,095.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the transaction, the chief executive officer now directly owns 219,363 shares in the company, valued at $25,400,041.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,580,095.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,513 shares of company stock worth $3,869,053. 1.90% of the stock is owned by company insiders.

TD SYNNEX 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.