TD SYNNEX Co. (NYSE:SNX) Shares Purchased by Concentric Capital Strategies LP

Concentric Capital Strategies LP raised its holdings in TD SYNNEX Co. (NYSE:SNX) by 4.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 87,115 shares of the business services provider’s stock after acquiring an additional 3,781 shares during the period. Concentric Capital Strategies LP’s holdings in TD SYNNEX were worth $10,461,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in TD SYNNEX during the 3rd quarter worth approximately $30,000. UMB Bank n.a. lifted its position in shares of TD SYNNEX by 99.3% during the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after purchasing an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in TD SYNNEX during the 3rd quarter worth approximately $37,000. Blue Trust Inc. boosted its holdings in TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after purchasing an additional 123 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of TD SYNNEX in the 2nd quarter valued at about $52,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TD SYNNEX

In related news, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the sale, the insider now directly owns 23,339 shares in the company, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann F. Vezina sold 1,937 shares of the firm’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 of the company’s stock, valued at approximately $689,721.45. This represents a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,645 shares of company stock valued at $8,414,329. 1.90% of the stock is owned by corporate insiders.

TD SYNNEX Price Performance

SNX stock opened at $118.99 on Monday. TD SYNNEX Co. has a 1 year low of $96.93 and a 1 year high of $133.85. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $119.24 and a two-hundred day moving average price of $119.60. The stock has a market cap of $10.12 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48.

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

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio is currently 20.70%.

Wall Street Analyst Weigh In

SNX has been the subject of several recent research reports. Loop Capital restated a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. Barrington Research reiterated an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a report on Monday, September 23rd. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Finally, Barclays upped their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $134.75.

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.