Dimensional Fund Advisors LP Buys 177,460 Shares of TD SYNNEX Co. (NYSE:SNX)

Dimensional Fund Advisors LP raised its stake in TD SYNNEX Co. (NYSE:SNX) by 8.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,239,852 shares of the business services provider’s stock after purchasing an additional 177,460 shares during the quarter. Dimensional Fund Advisors LP owned 2.62% of TD SYNNEX worth $258,482,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. increased its stake in shares of TD SYNNEX by 121.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after buying an additional 140 shares during the period. Rise Advisors LLC purchased a new position in shares of TD SYNNEX during the first quarter valued at approximately $32,000. Pineridge Advisors LLC purchased a new position in shares of TD SYNNEX during the fourth quarter valued at approximately $33,000. Blue Trust Inc. increased its stake in shares of TD SYNNEX by 52.3% during the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after buying an additional 123 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of TD SYNNEX by 217.5% during the second quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock valued at $52,000 after buying an additional 311 shares during the period. Institutional investors own 84.00% of the company’s stock.

Insider Activity

In other 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 transaction of $2,313,200.00. Following the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,580,095.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other 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 transaction of $2,313,200.00. Following the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,580,095.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Patrick Zammit sold 3,513 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the transaction, the chief operating officer now directly owns 140,205 shares in the company, valued at $15,882,422.40. The disclosure for this sale can be found here. Insiders have sold a total of 35,188 shares of company stock valued at $3,998,655 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

TD SYNNEX Trading Down 0.5 %

NYSE SNX opened at $115.58 on Thursday. 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 $9.88 billion, a P/E ratio of 16.19, a P/E/G ratio of 1.10 and a beta of 1.49. The stock’s fifty day moving average price is $115.71 and its 200-day moving average price is $117.29. 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 (NYSE:SNX) last released its earnings results on Tuesday, June 25th. The business services provider reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The company had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $14.12 billion. As a group, equities analysts forecast that TD SYNNEX Co. will post 11.22 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, July 12th. TD SYNNEX’s payout ratio is currently 22.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SNX shares. JPMorgan Chase & Co. reduced their target price on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Bank of America reduced their target price 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. UBS Group upped their price target on TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Wednesday, June 26th. Finally, StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, TD SYNNEX has a consensus rating of “Moderate Buy” and a consensus target price of $127.33.

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.