TD SYNNEX Co. (NYSE:SNX) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in TD SYNNEX Co. (NYSE:SNX) by 3.4% during the 3rd quarter, Holdings Channel reports. The firm owned 2,609 shares of the business services provider’s stock after acquiring an additional 86 shares during the quarter. CIBC Asset Management Inc’s holdings in TD SYNNEX were worth $313,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in TD SYNNEX during the 3rd quarter valued at about $30,000. UMB Bank n.a. increased its stake in shares of TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after purchasing an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of TD SYNNEX during the 3rd quarter worth approximately $37,000. Blue Trust Inc. lifted its stake 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 in the last quarter. Finally, GAMMA Investing LLC grew its holdings in TD SYNNEX by 217.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock valued at $52,000 after buying an additional 311 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Up 0.5 %

NYSE SNX opened at $116.55 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 fifty-two week low of $96.93 and a fifty-two week high of $133.85. The business has a 50 day moving average price of $118.78 and a two-hundred day moving average price of $119.68. The stock has a market cap of $9.92 billion, a PE ratio of 15.08, a P/E/G ratio of 1.15 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share 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 business had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. During the same period last year, the business earned $2.71 EPS. The business’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared 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 1.37%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio is currently 20.70%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 15,689 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 134,706 shares in the company, valued at $15,751,172.58. This represents a 10.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann F. Vezina sold 1,937 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total value of $234,590.07. Following the transaction, the director now owns 5,695 shares in the company, valued at $689,721.45. This trade represents a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,645 shares of company stock worth $8,414,329 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.