Creative Planning Reduces Position in TD SYNNEX Co. (NYSE:SNX)

Creative Planning lessened its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 13.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,424 shares of the business services provider’s stock after selling 1,190 shares during the quarter. Creative Planning’s holdings in TD SYNNEX were worth $891,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Nordea Investment Management AB lifted its stake in TD SYNNEX by 38.5% in the first quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock worth $172,081,000 after acquiring an additional 421,908 shares during the period. Hancock Whitney Corp lifted its stake in TD SYNNEX by 57.9% in the second quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock worth $1,954,000 after acquiring an additional 6,207 shares during the period. Lord Abbett & CO. LLC purchased a new stake in TD SYNNEX in the first quarter worth $57,981,000. Wedge Capital Management L L P NC lifted its stake in TD SYNNEX by 20.3% in the second quarter. Wedge Capital Management L L P NC now owns 31,146 shares of the business services provider’s stock worth $3,594,000 after acquiring an additional 5,252 shares during the period. Finally, Friedenthal Financial purchased a new stake in TD SYNNEX in the second quarter worth $967,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on SNX shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Friday, September 27th. Barrington Research reissued an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. Loop Capital reissued a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a research report on Monday, October 7th. Barclays raised their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Finally, StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.75.

Insiders Place Their Bets

In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other TD SYNNEX news, insider Dennis Polk sold 15,689 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 134,706 shares in the company, valued at $15,751,172.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the sale, the chief financial officer now owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,837 shares of company stock valued at $8,904,751. 1.90% of the stock is owned by insiders.

TD SYNNEX Price Performance

SNX opened at $115.50 on Friday. The stock has a 50-day moving average price of $118.07 and a 200-day moving average price of $119.41. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The firm has a market cap of $9.83 billion, a PE ratio of 14.94, a P/E/G ratio of 1.20 and a beta of 1.48. TD SYNNEX Co. has a 1 year low of $92.66 and a 1 year high of $133.85.

TD SYNNEX (NYSE:SNX) last posted its quarterly 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. The firm had revenue of $14.68 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.71 EPS. Sell-side analysts predict that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is 20.70%.

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.