Mackenzie Financial Corp Raises Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Mackenzie Financial Corp increased its position in TD SYNNEX Co. (NYSE:SNX) by 5.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,168 shares of the business services provider’s stock after buying an additional 1,646 shares during the quarter. Mackenzie Financial Corp’s holdings in TD SYNNEX were worth $3,481,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SNX. Vanguard Group Inc. increased its stake in shares of TD SYNNEX by 23.4% in the first quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock worth $751,143,000 after buying an additional 1,261,474 shares during the period. Pacer Advisors Inc. increased its position in 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 valued at $313,469,000 after purchasing an additional 1,006,569 shares during the period. Ninety One UK Ltd increased its position 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 valued at $158,298,000 after purchasing an additional 777,924 shares during the period. Lind Value II ApS purchased a new position in TD SYNNEX during the 1st quarter valued at $77,858,000. Finally, Lord Abbett & CO. LLC purchased a new position in TD SYNNEX during the 1st quarter valued at $57,981,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. UBS Group upped their price target on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Barrington Research reiterated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. Bank of America lowered 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and an average price target of $132.57.

Insider Buying and Selling

In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 45,115 shares in the company, valued at approximately $4,968,966.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Patrick Zammit sold 3,513 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the transaction, the chief operating officer now owns 140,205 shares of the company’s stock, valued at $15,882,422.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,188 shares of company stock valued at $1,685,455. 1.90% of the stock is owned by corporate insiders.

TD SYNNEX Price Performance

NYSE SNX opened at $116.57 on Wednesday. The company has a 50-day moving average price of $116.25 and a 200-day moving average price of $118.27. The firm has a market capitalization of $9.96 billion, a P/E ratio of 16.33, a PEG ratio of 1.19 and a beta of 1.49. TD SYNNEX Co. has a 52 week low of $89.73 and a 52 week high of $133.85. The company has a quick ratio of 0.78, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last released its 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 company had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.71 EPS. Equities research analysts anticipate that TD SYNNEX Co. will post 11.22 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s dividend payout ratio is 22.41%.

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.