TD SYNNEX Co. (NYSE:SNX) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 21.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,028 shares of the business services provider’s stock after purchasing an additional 1,426 shares during the period. Oppenheimer Asset Management Inc.’s holdings in TD SYNNEX were worth $926,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Benjamin F. Edwards & Company Inc. lifted its stake in 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 in the last quarter. Rise Advisors LLC acquired a new stake in shares of TD SYNNEX during the first quarter valued at approximately $32,000. Pineridge Advisors LLC acquired a new position in TD SYNNEX in the 4th quarter worth approximately $33,000. Blue Trust Inc. grew 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 worth $40,000 after purchasing an additional 123 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in TD SYNNEX by 217.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 311 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SNX. Royal Bank of Canada upgraded TD SYNNEX from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $135.00 to $140.00 in a report on Monday, July 15th. JPMorgan Chase & Co. dropped their target price on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Barrington Research restated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a report on Wednesday, June 26th. 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 research report on Wednesday, June 26th. Finally, StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $128.25.

Insider Transactions at TD SYNNEX

In related news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction dated 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 sale, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,580,095.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,580,095.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $4,968,966.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,188 shares of company stock worth $3,998,655. 1.90% of the stock is currently owned by company insiders.

TD SYNNEX Trading Up 2.8 %

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

TD SYNNEX (NYSE:SNX) last issued its quarterly 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 business had revenue of $13.95 billion for the quarter, compared to analyst estimates of $14.12 billion. Equities research analysts forecast that TD SYNNEX Co. will post 11.22 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently declared 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 was Friday, July 12th. This represents a $1.60 annualized dividend and a yield of 1.35%. TD SYNNEX’s dividend payout ratio is 22.41%.

About TD SYNNEX

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.