Moran Wealth Management LLC Makes New $4.27 Million Investment in TD SYNNEX Co. (NYSE:SNX)

Moran Wealth Management LLC bought a new position in TD SYNNEX Co. (NYSE:SNX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 35,561 shares of the business services provider’s stock, valued at approximately $4,270,000.

A number of other hedge funds have also bought and sold shares of the business. First Horizon Advisors Inc. raised its position in TD SYNNEX by 3,731.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,644 shares of the business services provider’s stock worth $317,000 after buying an additional 2,575 shares during the last quarter. Advisors Asset Management Inc. raised its position in TD SYNNEX by 117.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,259 shares of the business services provider’s stock worth $151,000 after buying an additional 679 shares during the last quarter. Meeder Asset Management Inc. raised its position in TD SYNNEX by 112.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 29,407 shares of the business services provider’s stock worth $3,531,000 after buying an additional 15,567 shares during the last quarter. Pathstone Holdings LLC raised its position in TD SYNNEX by 45.2% in the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after buying an additional 5,698 shares during the last quarter. Finally, Quest Partners LLC raised its position in TD SYNNEX by 619.0% in the 3rd quarter. Quest Partners LLC now owns 7,248 shares of the business services provider’s stock worth $870,000 after buying an additional 6,240 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Trading Up 1.2 %

TD SYNNEX stock opened at $116.06 on Thursday. The firm has a 50 day moving average of $118.66 and a 200 day moving average of $119.70. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 1.15 and a beta of 1.48. TD SYNNEX Co. has a 12-month low of $96.93 and a 12-month high of $133.85. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.06. The company had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.71 EPS. As a group, research analysts predict that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s dividend payout ratio is 20.70%.

Insider Buying and Selling

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dennis Polk sold 15,689 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,751,172.58. This trade represents a 10.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,645 shares of company stock valued at $8,414,329. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on SNX shares. Loop Capital reissued a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Barrington Research reaffirmed an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Barclays upped their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.75.

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.