Stifel Financial Corp Cuts Position in TD SYNNEX Co. (NYSE:SNX)

Stifel Financial Corp lowered its holdings in TD SYNNEX Co. (NYSE:SNX) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,208 shares of the business services provider’s stock after selling 233 shares during the period. Stifel Financial Corp’s holdings in TD SYNNEX were worth $2,066,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SNX. FMR LLC raised its stake in shares of TD SYNNEX by 18.4% during the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after purchasing an additional 1,154,651 shares during the period. Pacer Advisors Inc. increased its position in shares of TD SYNNEX by 58.9% during the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock worth $313,469,000 after acquiring an additional 1,006,569 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in TD SYNNEX by 560.0% in the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock valued at $44,639,000 after purchasing an additional 315,424 shares during the last quarter. AQR Capital Management LLC raised its position in shares of TD SYNNEX by 21.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock valued at $178,421,000 after purchasing an additional 269,759 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of TD SYNNEX by 339.8% in the second quarter. Hsbc Holdings PLC now owns 267,229 shares of the business services provider’s stock worth $30,780,000 after buying an additional 206,473 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Transactions at TD SYNNEX

In related news, insider Dennis Polk sold 15,689 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 134,706 shares of the company’s stock, valued at $15,751,172.58. This trade represents a 10.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ann F. Vezina sold 1,937 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total value of $234,590.07. Following the transaction, the director now directly owns 5,695 shares in the company, valued at approximately $689,721.45. This represents a 25.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,155 shares of company stock worth $8,598,095. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

SNX has been the topic of several research analyst reports. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays boosted their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Barrington Research reaffirmed an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a report on Friday, September 27th. Finally, Loop Capital reiterated a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. Four equities 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $134.75.

TD SYNNEX Stock Up 0.9 %

Shares of SNX opened at $117.49 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 1.14 and a beta of 1.47. TD SYNNEX Co. has a 12 month low of $98.70 and a 12 month high of $133.85. The company has a 50-day moving average price of $120.23 and a two-hundred day moving average price of $119.04.

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

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s dividend payout ratio is currently 20.70%.

TD SYNNEX 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.