Raymond James & Associates Has $26.78 Million Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Raymond James & Associates cut its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 223,032 shares of the business services provider’s stock after selling 5,852 shares during the period. Raymond James & Associates’ holdings in TD SYNNEX were worth $26,782,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. ProShare Advisors LLC raised its holdings in TD SYNNEX by 3.2% during the 1st quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock worth $315,000 after purchasing an additional 86 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in TD SYNNEX by 3.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock worth $315,000 after purchasing an additional 90 shares during the last quarter. AlphaMark Advisors LLC raised its holdings in TD SYNNEX by 1.3% during the 3rd quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock worth $929,000 after purchasing an additional 100 shares during the last quarter. Fifth Third Bancorp raised its holdings in TD SYNNEX by 11.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock worth $123,000 after purchasing an additional 106 shares during the last quarter. Finally, SummerHaven Investment Management LLC raised its holdings in TD SYNNEX by 1.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 7,704 shares of the business services provider’s stock worth $889,000 after purchasing an additional 116 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SNX shares. Loop Capital restated a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. Bank of America lowered their price target on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, June 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. Barrington Research reiterated an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Finally, Barclays lifted their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.75.

TD SYNNEX Stock Performance

SNX opened at $120.75 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The company’s fifty day moving average price is $118.04 and its two-hundred day moving average price is $119.22. TD SYNNEX Co. has a 1-year low of $89.73 and a 1-year high of $133.85. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.22 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm had revenue of $14.68 billion for the quarter, compared to the consensus estimate of $14.11 billion. During the same quarter in the prior year, the company posted $2.71 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. On average, analysts expect that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.33%. TD SYNNEX’s payout ratio is 20.70%.

Insider Transactions at TD SYNNEX

In other news, insider David R. Vetter sold 20,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $123.14, for a total value of $2,462,800.00. Following the completion of the sale, the insider now owns 66,381 shares in the company, valued at $8,174,156.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Ann F. Vezina sold 1,937 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total value of $234,590.07. Following the completion of the sale, the director now owns 5,695 shares in the company, valued at $689,721.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David R. Vetter sold 20,000 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $123.14, for a total transaction of $2,462,800.00. Following the transaction, the insider now owns 66,381 shares of the company’s stock, valued at approximately $8,174,156.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,954 shares of company stock worth $8,918,668 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

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.