Fmr LLC Increases Stake in TD SYNNEX Co. (NYSE:SNX)

Fmr LLC raised its holdings in TD SYNNEX Co. (NYSE:SNX) by 18.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,425,592 shares of the business services provider’s stock after buying an additional 1,154,651 shares during the period. Fmr LLC owned approximately 8.73% of TD SYNNEX worth $891,665,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in TD SYNNEX by 9.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,760 shares of the business services provider’s stock worth $3,706,000 after purchasing an additional 2,858 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of TD SYNNEX by 13.1% during the first quarter. Public Employees Retirement System of Ohio now owns 24,973 shares of the business services provider’s stock worth $2,824,000 after buying an additional 2,889 shares during the period. Janus Henderson Group PLC raised its holdings in TD SYNNEX by 77.6% in the first quarter. Janus Henderson Group PLC now owns 45,837 shares of the business services provider’s stock valued at $5,187,000 after acquiring an additional 20,024 shares in the last quarter. California State Teachers Retirement System lifted its stake in TD SYNNEX by 3.5% in the first quarter. California State Teachers Retirement System now owns 58,946 shares of the business services provider’s stock worth $6,667,000 after acquiring an additional 1,974 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in TD SYNNEX by 55.7% during the 1st quarter. Tidal Investments LLC now owns 17,508 shares of the business services provider’s stock worth $1,980,000 after acquiring an additional 6,265 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Ann F. Vezina sold 1,937 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total transaction of $234,590.07. Following the sale, the director now directly owns 5,695 shares in the company, valued at approximately $689,721.45. The trade was a 25.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dennis Polk sold 15,689 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 134,706 shares of the company’s stock, valued at $15,751,172.58. This represents a 10.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,645 shares of company stock valued at $8,414,329. 1.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SNX has been the subject of several recent analyst reports. Barclays lifted their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a report on Friday, September 27th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Loop Capital reissued a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, Barrington Research reiterated an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $134.75.

TD SYNNEX Stock Down 0.7 %

TD SYNNEX stock opened at $119.77 on Thursday. The stock has a market capitalization of $10.19 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.22 and a beta of 1.48. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average of $119.12 and a two-hundred day moving average of $119.65. TD SYNNEX Co. has a twelve month low of $96.93 and a twelve month high of $133.85.

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

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a $0.40 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.34%. TD SYNNEX’s payout ratio is currently 20.70%.

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.