Foundations Investment Advisors LLC Makes New Investment in TD SYNNEX Co. (NYSE:SNX)

Foundations Investment Advisors LLC acquired a new stake in shares of TD SYNNEX Co. (NYSE:SNX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,762 shares of the business services provider’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. V Square Quantitative Management LLC bought a new position in TD SYNNEX in the third quarter valued at approximately $30,000. UMB Bank n.a. lifted its position in TD SYNNEX by 99.3% in the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in TD SYNNEX in the 3rd quarter worth $37,000. Blue Trust Inc. increased its holdings in TD SYNNEX by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after purchasing an additional 123 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of TD SYNNEX by 217.5% in the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 311 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $120.58 on Friday. The company has a fifty day moving average price of $118.10 and a two-hundred day moving average price of $119.26. TD SYNNEX Co. has a one year low of $89.73 and a one year high of $133.85. The stock has a market cap of $10.26 billion, a P/E ratio of 15.60, a P/E/G ratio of 1.22 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. The business had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. TD SYNNEX’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $2.71 earnings per share. As a group, equities analysts predict that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.33%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio is 20.70%.

Insiders Place Their Bets

In other news, insider Dennis Polk sold 15,689 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total value of $1,834,514.77. Following the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,751,172.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other TD SYNNEX news, insider David R. Vetter sold 20,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $123.14, for a total value of $2,462,800.00. Following the transaction, the insider now directly owns 66,381 shares of the company’s stock, valued at $8,174,156.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value of $1,834,514.77. Following the transaction, the insider now owns 134,706 shares in the company, valued at $15,751,172.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,954 shares of company stock valued at $8,918,668 over the last ninety days. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SNX. Barrington Research reaffirmed an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Barclays boosted their price objective 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. Loop Capital reaffirmed a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $134.75.

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.