Hancock Whitney Corp Raises Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Hancock Whitney Corp grew its holdings in TD SYNNEX Co. (NYSE:SNX) by 57.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,929 shares of the business services provider’s stock after buying an additional 6,207 shares during the quarter. Hancock Whitney Corp’s holdings in TD SYNNEX were worth $1,954,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in TD SYNNEX by 23.4% during the first quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock worth $751,143,000 after acquiring an additional 1,261,474 shares during the period. Pacer Advisors Inc. raised its position in shares of TD SYNNEX by 58.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock worth $313,469,000 after purchasing an additional 1,006,569 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in TD SYNNEX by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock valued at $258,482,000 after buying an additional 177,460 shares in the last quarter. Nordea Investment Management AB boosted its holdings in TD SYNNEX by 38.5% in the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock worth $172,081,000 after buying an additional 421,908 shares during the last quarter. Finally, Ninety One UK Ltd increased its stake 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 worth $158,298,000 after buying an additional 777,924 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TD SYNNEX

In related news, insider Dennis Polk sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the transaction, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction dated 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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The disclosure for this sale can be found here. Insiders sold a total of 35,188 shares of company stock worth $3,998,655 over the last three months. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

SNX has been the topic of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Wednesday, June 26th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. decreased their price target on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Royal Bank of Canada raised shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $135.00 to $140.00 in a research note on Monday, July 15th. Finally, Bank of America decreased their target price 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. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, TD SYNNEX presently has an average rating of “Moderate Buy” and an average target price of $128.25.

TD SYNNEX Stock Down 0.7 %

Shares of NYSE SNX opened at $118.03 on Friday. The company has a market capitalization of $10.09 billion, a P/E ratio of 16.53, a P/E/G ratio of 1.13 and a beta of 1.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78. The company has a 50 day simple moving average of $116.04 and a 200-day simple moving average of $117.47. TD SYNNEX Co. has a 1 year low of $89.73 and a 1 year high of $133.85.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.66 by ($0.05). TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The business had revenue of $13.95 billion for the quarter, compared to analyst estimates of $14.12 billion. On average, equities research analysts predict that TD SYNNEX Co. will post 11.22 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Friday, July 12th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

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.