The Manufacturers Life Insurance Company Boosts Holdings in TD SYNNEX Co. (NYSE:SNX)

The Manufacturers Life Insurance Company raised its position in TD SYNNEX Co. (NYSE:SNX) by 1.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,289 shares of the business services provider’s stock after buying an additional 746 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of TD SYNNEX worth $8,200,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. boosted its stake in TD SYNNEX by 58.9% during 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 last quarter. Dimensional Fund Advisors LP grew its position in TD SYNNEX by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock worth $258,482,000 after purchasing an additional 177,460 shares during the last quarter. AQR Capital Management LLC increased its stake 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 period. Ninety One UK Ltd raised its holdings in shares of 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 buying an additional 777,924 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of TD SYNNEX by 20.1% during the second quarter. LSV Asset Management now owns 1,055,045 shares of the business services provider’s stock worth $121,752,000 after buying an additional 176,571 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider David R. Vetter sold 20,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $8,174,156.34. This trade represents a 23.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now directly owns 23,339 shares in the company, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,528 shares of company stock valued at $8,400,855. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SNX shares. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Barclays lifted their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. 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. Finally, Loop Capital reiterated a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the 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.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $122.36 on Wednesday. The company has a market cap of $10.41 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.13 and a beta of 1.47. The business has a fifty day simple moving average of $119.31 and a 200-day simple moving average of $119.55. TD SYNNEX Co. has a 52 week low of $96.93 and a 52 week high of $133.85. 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 posted 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 during 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 firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.71 EPS. Equities research analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s payout ratio is currently 20.70%.

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.