Truist Financial Corp Has $1.76 Million Stock Position in TD SYNNEX Co. (NYSE:SNX)

Truist Financial Corp trimmed its position in shares of TD SYNNEX Co. (NYSE:SNX) by 14.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,222 shares of the business services provider’s stock after selling 2,658 shares during the period. Truist Financial Corp’s holdings in TD SYNNEX were worth $1,757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SNX. Benjamin F. Edwards & Company Inc. lifted its position in shares of TD SYNNEX by 121.7% during the 1st 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 during the period. Rise Advisors LLC bought a new position in shares of TD SYNNEX during the first quarter valued at $32,000. Pineridge Advisors LLC acquired a new stake in shares of TD SYNNEX in the 4th quarter valued at $33,000. Blue Trust Inc. grew its holdings in shares of TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after purchasing an additional 123 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of TD SYNNEX by 217.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock worth $52,000 after purchasing an additional 311 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Price Performance

Shares of SNX stock opened at $118.69 on Friday. 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 Co. has a 12 month low of $89.73 and a 12 month high of $133.85. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.22 and a beta of 1.48. The stock has a 50-day moving average price of $116.48 and a 200 day moving average price of $118.87.

TD SYNNEX (NYSE:SNX) last posted 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. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The business had revenue of $14.68 billion during the quarter, compared to the consensus estimate of $14.11 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. TD SYNNEX’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts expect that TD SYNNEX Co. will post 11.06 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.35%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

Insiders Place Their Bets

In other news, CFO Marshall Witt sold 11,441 shares of the company’s stock in a transaction dated 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 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other TD SYNNEX news, Director Ann F. Vezina sold 1,937 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total value of $234,590.07. Following the completion of the transaction, the director now directly owns 5,695 shares of the company’s stock, valued at approximately $689,721.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marshall Witt sold 11,441 shares of TD SYNNEX stock in a transaction dated Wednesday, August 7th. The shares were 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 in the company, valued at $4,968,966.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,954 shares of company stock worth $4,041,468. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays boosted their price target 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. Loop Capital restated a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Bank of America cut their price objective on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.