Hsbc Holdings PLC Acquires 206,473 Shares of TD SYNNEX Co. (NYSE:SNX)

Hsbc Holdings PLC increased its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 339.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 267,229 shares of the business services provider’s stock after acquiring an additional 206,473 shares during the quarter. Hsbc Holdings PLC owned about 0.31% of TD SYNNEX worth $30,780,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SNX. Benjamin F. Edwards & Company Inc. increased its holdings in shares of TD SYNNEX by 121.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of TD SYNNEX during the first quarter worth $32,000. Pineridge Advisors LLC bought a new stake in shares of TD SYNNEX in the fourth quarter valued at about $33,000. Blue Trust Inc. grew its stake in shares of TD SYNNEX by 52.3% in the second 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 in the last quarter. Finally, GAMMA Investing LLC increased its position in TD SYNNEX by 217.5% during the second quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock worth $52,000 after acquiring an additional 311 shares during the period. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Price Performance

Shares of SNX stock opened at $118.03 on Friday. The business has a fifty day simple moving average of $116.04 and a 200 day simple moving average of $117.47. The company has a market cap 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 quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. TD SYNNEX Co. has a twelve month low of $89.73 and a twelve month high of $133.85.

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

TD SYNNEX Dividend Announcement

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

Insider Activity

In related news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,580,095.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Marshall Witt sold 11,441 shares of TD SYNNEX stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 sale, 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. In the last ninety days, insiders sold 35,188 shares of company stock worth $3,998,655. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on SNX. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Bank of America reduced their price target on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. UBS Group lifted their price objective on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Royal Bank of Canada raised TD SYNNEX from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $135.00 to $140.00 in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. dropped their price target on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average target price of $128.25.

TD SYNNEX Company 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.