TD SYNNEX Co. (NYSE:SNX) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lowered its position in TD SYNNEX Co. (NYSE:SNX) by 1.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 105,263 shares of the business services provider’s stock after selling 1,031 shares during the period. HighTower Advisors LLC owned about 0.12% of TD SYNNEX worth $12,605,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in TD SYNNEX during the third quarter worth approximately $30,000. UMB Bank n.a. raised 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 buying an additional 144 shares during the period. Kathleen S. Wright Associates Inc. purchased a new position in shares of TD SYNNEX during the 3rd quarter valued at approximately $37,000. Blue Trust Inc. grew 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 acquiring an additional 123 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in TD SYNNEX in the 2nd quarter worth $52,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TD SYNNEX

In other news, insider Dennis Polk sold 15,689 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at approximately $15,751,172.58. This represents a 10.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the sale, the insider now owns 23,339 shares in the company, valued at approximately $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,645 shares of company stock worth $8,415,189. Insiders own 1.90% of the company’s stock.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $123.23 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The business’s 50 day moving average price is $119.65 and its 200 day moving average price is $119.48. The company has a market cap of $10.49 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.15 and a beta of 1.47. TD SYNNEX Co. has a one year low of $97.50 and a one year 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, beating the consensus estimate of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. During the same quarter in the previous year, the company posted $2.71 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. On average, research analysts predict that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s payout ratio is presently 20.70%.

Analysts Set New Price Targets

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