Choreo LLC Invests $376,000 in TD SYNNEX Co. (NYSE:SNX)

Choreo LLC acquired a new stake in shares of TD SYNNEX Co. (NYSE:SNX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,299 shares of the business services provider’s stock, valued at approximately $376,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNX. Vanguard Group Inc. grew its stake in shares of TD SYNNEX by 23.4% in the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock valued at $751,143,000 after buying an additional 1,261,474 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of 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 purchasing an additional 421,908 shares during the last quarter. Ninety One UK Ltd boosted its holdings in TD SYNNEX by 131.0% in the second quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock worth $158,298,000 after purchasing an additional 777,924 shares in the last quarter. Lyrical Asset Management LP increased its position in TD SYNNEX by 0.3% during the fourth quarter. Lyrical Asset Management LP now owns 1,277,884 shares of the business services provider’s stock worth $137,513,000 after buying an additional 3,571 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of TD SYNNEX by 20.1% during the 2nd quarter. LSV Asset Management now owns 1,055,045 shares of the business services provider’s stock worth $121,752,000 after acquiring an additional 176,571 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the sale, the insider now directly owns 134,706 shares in the company, valued at $15,580,095.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Patrick Zammit sold 3,513 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $113.28, for a total transaction of $397,952.64. Following the completion of the sale, the chief operating officer now directly owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dennis Polk sold 20,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,580,095.96. The disclosure for this sale can be found here. Insiders sold 35,188 shares of company stock worth $3,998,655 in the last 90 days. 1.90% of the stock is owned by company insiders.

TD SYNNEX Price Performance

Shares of SNX stock opened at $114.10 on Tuesday. The company has a market capitalization of $9.75 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.10 and a beta of 1.49. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47. TD SYNNEX Co. has a 12 month low of $89.73 and a 12 month high of $133.85. The stock has a 50 day moving average of $115.60 and a two-hundred day moving average of $117.21.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.66 by ($0.05). The business had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $14.12 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. As a group, equities analysts expect that TD SYNNEX Co. will post 11.22 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.40%. TD SYNNEX’s payout ratio is presently 22.41%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Bank of America cut their price objective on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Royal Bank of Canada upgraded shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $135.00 to $140.00 in a research note on Monday, July 15th. UBS Group raised their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. JPMorgan Chase & Co. cut their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.33.

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.