Bank of Montreal Can Buys 11,230 Shares of TD SYNNEX Co. (NYSE:SNX)

Bank of Montreal Can lifted its holdings in TD SYNNEX Co. (NYSE:SNX) by 173.8% in the second quarter, HoldingsChannel.com reports. The fund owned 17,692 shares of the business services provider’s stock after buying an additional 11,230 shares during the quarter. Bank of Montreal Can’s holdings in TD SYNNEX were worth $2,077,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. ProShare Advisors LLC boosted its stake in shares of TD SYNNEX by 3.2% in the first quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock worth $315,000 after acquiring an additional 86 shares during the period. Fifth Third Bancorp boosted its stake in shares of TD SYNNEX by 11.1% in the second quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock worth $123,000 after acquiring an additional 106 shares during the period. SummerHaven Investment Management LLC boosted its stake in shares of TD SYNNEX by 1.5% in the second quarter. SummerHaven Investment Management LLC now owns 7,704 shares of the business services provider’s stock worth $889,000 after acquiring an additional 116 shares during the period. Blue Trust Inc. boosted its stake in shares of TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after acquiring an additional 123 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of TD SYNNEX by 121.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after buying an additional 140 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Insider Activity

In other news, COO Patrick Zammit sold 3,513 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $113.28, for a total transaction of $397,952.64. Following the transaction, the chief operating officer now owns 140,205 shares of the company’s stock, valued at $15,882,422.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 of the company’s stock, valued at $4,968,966.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Patrick Zammit sold 3,513 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the transaction, the chief operating officer now directly owns 140,205 shares in the company, valued at approximately $15,882,422.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,188 shares of company stock valued at $1,685,455. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

SNX has been the topic of a number of research analyst reports. Barclays boosted their target price on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research report on Friday, September 27th. Bank of America decreased their target price on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Barrington Research reiterated an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. Finally, StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.57.

TD SYNNEX Trading Down 1.1 %

Shares of SNX stock opened at $115.35 on Friday. TD SYNNEX Co. has a 1 year low of $89.73 and a 1 year high of $133.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.78. The stock’s 50 day simple moving average is $116.25 and its two-hundred day simple moving average is $118.26. The company has a market cap of $9.86 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 1.19 and a beta of 1.49.

TD SYNNEX (NYSE:SNX) last released its earnings results 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. The firm 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 company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.71 earnings per share. Research analysts predict that TD SYNNEX Co. will post 11.22 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. TD SYNNEX’s dividend payout ratio is 22.41%.

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.