DekaBank Deutsche Girozentrale Decreases Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

DekaBank Deutsche Girozentrale lowered its position in TD SYNNEX Co. (NYSE:SNX) by 70.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,600 shares of the business services provider’s stock after selling 18,400 shares during the period. DekaBank Deutsche Girozentrale’s holdings in TD SYNNEX were worth $872,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its stake in TD SYNNEX by 121.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 140 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of TD SYNNEX in the 1st quarter worth $32,000. Pineridge Advisors LLC purchased a new position in TD SYNNEX during the 4th quarter worth $33,000. Blue Trust Inc. increased its position in TD SYNNEX by 52.3% during the 2nd 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 in the last quarter. Finally, GAMMA Investing LLC raised its stake in TD SYNNEX by 217.5% in 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 last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Transactions at TD SYNNEX

In related news, CFO Marshall Witt sold 11,441 shares of TD SYNNEX stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total value of $1,260,111.74. Following the completion of the transaction, the chief financial officer now owns 45,115 shares in the company, valued at approximately $4,968,966.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Marshall Witt sold 11,441 shares of TD SYNNEX stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the sale, the chief financial officer now owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 owns 134,706 shares of the company’s stock, valued at $15,580,095.96. 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 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SNX has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut 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. Royal Bank of Canada raised shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $135.00 to $140.00 in a report on Monday, July 15th. UBS Group boosted their price objective on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Barrington Research restated an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research note on Wednesday, June 26th. Finally, Bank of America dropped their price target 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. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $128.25.

TD SYNNEX Stock Up 2.8 %

Shares of SNX opened at $118.86 on Friday. The stock’s 50-day moving average price is $115.81 and its 200-day moving average price is $117.28. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.13 and a beta of 1.49. TD SYNNEX Co. has a 52 week low of $89.73 and a 52 week high of $133.85.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Tuesday, June 25th. The business services provider reported $2.61 EPS for the quarter, missing the consensus estimate of $2.66 by ($0.05). The company had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $14.12 billion. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. On average, sell-side analysts predict that TD SYNNEX Co. will post 11.22 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given 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 1.35%. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.41%.

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.