Creative Planning Sells 1,190 Shares of TD SYNNEX Co. (NYSE:SNX)

Creative Planning cut its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 13.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,424 shares of the business services provider’s stock after selling 1,190 shares during the quarter. Creative Planning’s holdings in TD SYNNEX were worth $891,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SNX. Wealth Enhancement Advisory Services LLC lifted its holdings in TD SYNNEX by 9.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,571 shares of the business services provider’s stock worth $743,000 after purchasing an additional 548 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in TD SYNNEX by 85.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,199 shares of the business services provider’s stock worth $1,493,000 after purchasing an additional 6,098 shares in the last quarter. State of Michigan Retirement System lifted its holdings in TD SYNNEX by 13.8% in the 1st quarter. State of Michigan Retirement System now owns 14,021 shares of the business services provider’s stock worth $1,586,000 after purchasing an additional 1,700 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in TD SYNNEX by 500.1% in the 1st quarter. State of Alaska Department of Revenue now owns 33,239 shares of the business services provider’s stock worth $3,758,000 after purchasing an additional 27,700 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in TD SYNNEX by 16.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 4,781 shares of the business services provider’s stock worth $544,000 after purchasing an additional 680 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $120.72, for a total value of $2,414,400.00. Following the completion of the sale, the director now directly owns 171,080 shares of the company’s stock, valued at $20,652,777.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $120.72, for a total value of $2,414,400.00. Following the completion of the sale, the director now owns 171,080 shares of the company’s stock, valued at approximately $20,652,777.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Marshall Witt sold 11,441 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the sale, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,837 shares of company stock valued at $8,904,751 in the last three months. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

TD SYNNEX Stock Performance

Shares of NYSE:SNX opened at $115.50 on Friday. The company has a market capitalization of $9.83 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.20 and a beta of 1.48. TD SYNNEX Co. has a 12 month low of $92.66 and a 12 month high of $133.85. The firm’s 50-day moving average is $118.07 and its 200 day moving average is $119.41. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

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

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.39%. TD SYNNEX’s payout ratio is 20.70%.

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.