Natixis Advisors LLC Increases Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Natixis Advisors LLC boosted its position in shares of TD SYNNEX Co. (NYSE:SNX) by 11.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 79,262 shares of the business services provider’s stock after buying an additional 8,438 shares during the period. Natixis Advisors LLC’s holdings in TD SYNNEX were worth $9,518,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in TD SYNNEX in the 3rd quarter valued at about $30,000. UMB Bank n.a. raised its holdings in shares of TD SYNNEX by 99.3% in the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after buying an additional 144 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in shares of TD SYNNEX during the third quarter worth about $37,000. Blue Trust Inc. boosted its position in 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 buying an additional 123 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in TD SYNNEX by 217.5% in the second 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. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on SNX shares. Loop Capital reiterated a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. 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 set a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Barclays raised 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 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.75.

Insider Buying and Selling

In related news, insider Dennis Polk sold 15,689 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the transaction, the insider now directly owns 134,706 shares in the company, valued at approximately $15,751,172.58. This represents a 10.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the sale, the insider now owns 23,339 shares of the company’s stock, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,645 shares of company stock worth $8,414,329. 1.90% of the stock is owned by insiders.

TD SYNNEX Trading Up 0.5 %

Shares of SNX opened at $116.55 on Friday. TD SYNNEX Co. has a twelve month low of $96.93 and a twelve month high of $133.85. 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 firm has a market capitalization of $9.92 billion, a P/E ratio of 15.08, a PEG ratio of 1.15 and a beta of 1.48. The firm’s 50-day moving average is $118.78 and its two-hundred day moving average is $119.68.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 EPS 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 analysts’ expectations of $14.11 billion. During the same period in the prior year, the company earned $2.71 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. On average, research analysts predict that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid 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 1.37%. TD SYNNEX’s dividend payout ratio is currently 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.