Pallas Capital Advisors LLC Grows Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Pallas Capital Advisors LLC grew its position in shares of TD SYNNEX Co. (NYSE:SNX) by 29.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,322 shares of the business services provider’s stock after purchasing an additional 1,203 shares during the period. Pallas Capital Advisors LLC’s holdings in TD SYNNEX were worth $642,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in TD SYNNEX in the 3rd quarter worth approximately $30,000. UMB Bank n.a. raised its stake in shares of TD SYNNEX by 99.3% during the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after acquiring an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in shares of TD SYNNEX in the 3rd quarter worth approximately $37,000. Blue Trust Inc. boosted its stake in shares of TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 123 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of 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 last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on SNX shares. Barrington Research reissued an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. Loop Capital restated a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a report on Monday, October 7th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. Finally, Barclays raised their target price on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.75.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock opened at $119.10 on Thursday. The business has a 50 day moving average of $118.28 and a 200 day moving average of $119.41. TD SYNNEX Co. has a 52 week low of $90.51 and a 52 week high of $133.85. The company has a market cap of $10.13 billion, a PE ratio of 15.41, a P/E/G ratio of 1.22 and a beta of 1.48. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $14.11 billion. During the same quarter in the previous year, the firm posted $2.71 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts forecast that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.40 per share. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. TD SYNNEX’s dividend payout ratio is presently 20.70%.

Insider Buying and Selling

In other news, Director Ann F. Vezina sold 1,937 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total transaction of $234,590.07. Following the sale, the director now owns 5,695 shares in the company, valued at approximately $689,721.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Marshall Witt sold 11,441 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 45,115 shares in the company, valued at $4,968,966.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ann F. Vezina sold 1,937 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total transaction of $234,590.07. Following the sale, the director now owns 5,695 shares of the company’s stock, valued at approximately $689,721.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,837 shares of company stock valued at $8,904,751 over the last ninety days. Company insiders own 1.90% of the company’s stock.

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.