Hancock Whitney Corp Grows Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Hancock Whitney Corp grew its stake in TD SYNNEX Co. (NYSE:SNX) by 57.9% during the second quarter, HoldingsChannel reports. The firm owned 16,929 shares of the business services provider’s stock after purchasing an additional 6,207 shares during the quarter. Hancock Whitney Corp’s holdings in TD SYNNEX were worth $1,954,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SNX. Thrivent Financial for Lutherans raised its position in TD SYNNEX by 294.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 56,323 shares of the business services provider’s stock worth $6,499,000 after buying an additional 42,028 shares during the last quarter. Sei Investments Co. raised its holdings in TD SYNNEX by 208.5% during the second quarter. Sei Investments Co. now owns 29,334 shares of the business services provider’s stock worth $3,385,000 after purchasing an additional 19,826 shares in the last quarter. Pacer Advisors Inc. lifted its position in TD SYNNEX by 58.9% in the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock valued at $313,469,000 after purchasing an additional 1,006,569 shares during the period. Intech Investment Management LLC purchased a new stake in TD SYNNEX in the 2nd quarter valued at approximately $1,634,000. Finally, Burgundy Asset Management Ltd. raised its stake in shares of TD SYNNEX by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 573,948 shares of the business services provider’s stock worth $66,234,000 after buying an additional 8,187 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Activity

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Thursday, June 27th. The shares were 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 directly owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Dennis Polk sold 20,000 shares of the firm’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 sale, the insider now owns 134,706 shares in the company, valued at $15,580,095.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Witt sold 11,441 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The disclosure for this sale can be found here. Insiders sold a total of 35,188 shares of company stock valued at $3,998,655 over the last 90 days. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

SNX has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price target 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 decreased their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Barrington Research reiterated an “outperform” rating and issued 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 stock a “buy” rating in a report on Wednesday, June 26th. Finally, Royal Bank of Canada raised shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $135.00 to $140.00 in a report on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and a consensus target price of $128.25.

TD SYNNEX Stock Down 0.7 %

Shares of NYSE SNX opened at $118.03 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78. The firm’s 50-day moving average is $116.04 and its two-hundred day moving average is $117.47. TD SYNNEX Co. has a 12-month low of $89.73 and a 12-month high of $133.85. The company has a market capitalization of $10.09 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49.

TD SYNNEX (NYSE:SNX) last announced 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 net margin of 1.14% and a return on equity of 12.32%. The company had revenue of $13.95 billion for the quarter, compared to analyst estimates of $14.12 billion. Equities analysts anticipate that TD SYNNEX Co. will post 11.22 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. TD SYNNEX’s dividend payout ratio 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.