TD SYNNEX Co. (NYSE:SNX) Shares Bought by Shaker Investments LLC OH

Shaker Investments LLC OH grew its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 134.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,331 shares of the business services provider’s stock after acquiring an additional 10,522 shares during the period. Shaker Investments LLC OH’s holdings in TD SYNNEX were worth $2,201,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SNX. Vanguard Group Inc. lifted its position in shares of TD SYNNEX by 23.4% during the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock valued at $751,143,000 after acquiring an additional 1,261,474 shares during the period. Pacer Advisors Inc. lifted its stake in TD SYNNEX by 58.9% in the 2nd quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock valued at $313,469,000 after buying an additional 1,006,569 shares in the last quarter. Ninety One UK Ltd grew its holdings in TD SYNNEX by 131.0% during the 2nd 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. Lind Value II ApS purchased a new position in TD SYNNEX during the first quarter worth $77,858,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of TD SYNNEX in the first quarter worth $57,981,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SNX. Barclays increased their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Bank of America decreased their price target on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Loop Capital reaffirmed a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research note on Monday, October 7th. Barrington Research reaffirmed an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research note on Friday, September 27th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $134.75.

Insider Activity at TD SYNNEX

In related news, Director Ann F. Vezina sold 1,937 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were 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 approximately $689,721.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Ann F. Vezina sold 1,937 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were 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 approximately $689,721.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the transaction, the chief financial officer now owns 45,115 shares in the company, valued at $4,968,966.10. The trade was 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. Company insiders own 1.90% of the company’s stock.

TD SYNNEX Price Performance

SNX opened at $118.69 on Friday. The company’s 50 day simple moving average is $116.48 and its 200 day simple moving average is $118.91. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. TD SYNNEX Co. has a 1 year low of $89.73 and a 1 year high of $133.85. The stock has a market capitalization of $10.14 billion, a PE ratio of 16.62, a P/E/G ratio of 1.22 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping 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 business had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. During the same period last year, the company earned $2.71 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that TD SYNNEX Co. will post 11.06 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.35%. TD SYNNEX’s payout ratio is 22.41%.

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.