Pathstone Holdings LLC Raises Position in TD SYNNEX Co. (NYSE:SNX)

Pathstone Holdings LLC lifted its stake in TD SYNNEX Co. (NYSE:SNX) by 45.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,300 shares of the business services provider’s stock after buying an additional 5,698 shares during the period. Pathstone Holdings LLC’s holdings in TD SYNNEX were worth $2,197,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SNX. Pacer Advisors Inc. boosted its position in shares of 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 worth $313,469,000 after buying an additional 1,006,569 shares during the period. Ninety One UK Ltd boosted its holdings in TD SYNNEX by 131.0% in the second quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock valued at $158,298,000 after purchasing an additional 777,924 shares during the last quarter. Lind Value II ApS purchased a new position in TD SYNNEX in the first quarter valued at about $77,858,000. Thrivent Financial for Lutherans boosted its holdings in TD SYNNEX by 560.0% in the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock valued at $44,639,000 after purchasing an additional 315,424 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in TD SYNNEX by 21.1% in the second quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock valued at $178,421,000 after purchasing an additional 269,759 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Activity at TD SYNNEX

In related news, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the sale, the insider now directly owns 23,339 shares in the company, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dennis Polk sold 15,689 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total value of $1,834,514.77. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 69,645 shares of company stock worth $8,414,329 in the last three months. 1.90% of the stock is owned by company insiders.

TD SYNNEX Stock Down 0.3 %

Shares of TD SYNNEX stock opened at $120.65 on Wednesday. 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 business’s 50 day simple moving average is $119.03 and its 200-day simple moving average is $119.66. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.20 and a beta of 1.48. TD SYNNEX Co. has a twelve month low of $96.93 and a twelve month high of $133.85.

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

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

Analysts Set New Price Targets

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

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.