Meiji Yasuda Asset Management Co Ltd. Takes Position in TD SYNNEX Co. (NYSE:SNX)

Meiji Yasuda Asset Management Co Ltd. bought a new position in TD SYNNEX Co. (NYSE:SNXFree Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 1,958 shares of the business services provider’s stock, valued at approximately $226,000.

Several other hedge funds have also bought and sold shares of the business. ProShare Advisors LLC lifted its stake in shares of TD SYNNEX by 3.2% in the first quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock valued at $315,000 after buying an additional 86 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of TD SYNNEX by 11.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock worth $123,000 after acquiring an additional 106 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in TD SYNNEX by 1.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,704 shares of the business services provider’s stock valued at $889,000 after acquiring an additional 116 shares in the last quarter. Blue Trust Inc. boosted its stake in TD SYNNEX by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 123 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in TD SYNNEX by 121.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Stock Down 0.7 %

SNX opened at $118.03 on Friday. TD SYNNEX Co. has a twelve month low of $89.73 and a twelve month high of $133.85. The company’s 50-day moving average price is $116.04 and its two-hundred day moving average price is $117.47. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 16.53, a PEG 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 (NYSE:SNXGet Free Report) last posted its quarterly earnings data on Tuesday, June 25th. The business services provider reported $2.61 EPS for the quarter, missing the consensus estimate of $2.66 by ($0.05). TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The firm had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $14.12 billion. As a group, equities analysts expect that TD SYNNEX Co. will post 11.22 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were issued a $0.40 dividend. 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 currently 22.41%.

Insider Buying and Selling at TD SYNNEX

In other news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the transaction, the insider now owns 134,706 shares in the company, valued at $15,580,095.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Marshall Witt sold 11,441 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was 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 directly owns 45,115 shares in the company, valued at $4,968,966.10. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 owns 134,706 shares of the company’s stock, valued at $15,580,095.96. The disclosure for this sale can be found here. Insiders have sold a total of 35,188 shares of company stock valued at $3,998,655 over the last three months. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on SNX. UBS Group lifted their target price on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Royal Bank of Canada raised shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $135.00 to $140.00 in a report on Monday, July 15th. Barrington Research reiterated an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a report on Wednesday, June 26th. Bank of America dropped 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 report on Thursday, June 27th. Finally, StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.25.

Get Our Latest Research Report on TD SYNNEX

About TD SYNNEX

(Free Report)

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.

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Institutional Ownership by Quarter for TD SYNNEX (NYSE:SNX)

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