First Trust Advisors LP Has $17.75 Million Stake in TD SYNNEX Co. (NYSE:SNX)

Posted by Defense World Staff on Mar 10th, 2023

First Trust Advisors LP trimmed its holdings in shares of TD SYNNEX Co. (NYSE:SNX – Get Rating) by 11.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,575 shares of the business services provider’s stock after selling 29,125 shares during the period. First Trust Advisors LP owned 0.23% of TD SYNNEX worth $17,746,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC increased its holdings in TD SYNNEX by 7.6% during the 2nd quarter. FMR LLC now owns 6,110,250 shares of the business services provider’s stock valued at $556,644,000 after purchasing an additional 432,189 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of TD SYNNEX by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 4,081,297 shares of the business services provider’s stock valued at $421,231,000 after buying an additional 59,152 shares during the period. BlackRock Inc. increased its stake in shares of TD SYNNEX by 6.0% in the 3rd quarter. BlackRock Inc. now owns 3,732,192 shares of the business services provider’s stock valued at $303,018,000 after buying an additional 211,608 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of TD SYNNEX by 4.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,605,550 shares of the business services provider’s stock valued at $130,363,000 after buying an additional 61,515 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of TD SYNNEX by 18.0% in the 2nd quarter. Nordea Investment Management AB now owns 1,351,256 shares of the business services provider’s stock valued at $121,410,000 after buying an additional 205,708 shares during the period. 84.70% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

SNX stock opened at $93.68 on Friday. The business’s 50-day moving average price is $101.73 and its two-hundred day moving average price is $96.41. The company has a current ratio of 1.25, a quick ratio of 0.70 and a debt-to-equity ratio of 0.48. The firm has a market cap of $8.93 billion, a PE ratio of 13.82, a P/E/G ratio of 0.87 and a beta of 1.65. TD SYNNEX Co. has a 1-year low of $78.86 and a 1-year high of $115.14.

TD SYNNEX (NYSE:SNX – Get Rating) last issued its quarterly earnings results on Tuesday, January 10th. The business services provider reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.45. The company had revenue of $16.25 billion for the quarter, compared to analyst estimates of $15.78 billion. TD SYNNEX had a return on equity of 14.08% and a net margin of 1.04%. As a group, research analysts forecast that TD SYNNEX Co. will post 11.67 earnings per share for the current year.

TD SYNNEX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 27th. Stockholders of record on Friday, January 20th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.49%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, January 19th. TD SYNNEX’s payout ratio is 20.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SNX shares. Barclays started coverage on TD SYNNEX in a research note on Wednesday, February 15th. They issued an “equal weight” rating and a $109.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on TD SYNNEX from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 11th. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, February 15th. Barrington Research lifted their price objective on TD SYNNEX from $98.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 11th. Finally, Credit Suisse Group lifted their price objective on TD SYNNEX from $103.00 to $109.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 11th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.00.

Insider Activity

In other news, major shareholder Apollo Management Holdings Gp, sold 5,175,000 shares of the business’s stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $97.00, for a total value of $501,975,000.00. Following the sale, the insider now directly owns 37,802,877 shares in the company, valued at $3,666,879,069. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Apollo Management Holdings Gp, sold 5,175,000 shares of TD SYNNEX stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $97.00, for a total value of $501,975,000.00. Following the sale, the insider now owns 37,802,877 shares of the company’s stock, valued at $3,666,879,069. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dennis Polk sold 8,000 shares of TD SYNNEX stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $97.13, for a total value of $777,040.00. Following the completion of the sale, the insider now directly owns 132,402 shares in the company, valued at approximately $12,860,206.26. The disclosure for this sale can be found here. Insiders have sold a total of 5,193,876 shares of company stock worth $503,889,486 over the last three months. Corporate insiders own 1.70% of the company’s stock.

TD SYNNEX Profile

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TD SYNNEX Corp. engages in the distribution and aggregation of solutions in the information technology ecosystem. It operates through the following geographical segments: Americas, Europe, and Asia-Pacific and Japan. The firm offers IT hardware, software, and systems including personal computing devices and peripherals, mobile phones and accessories, printers, server and datacenter infrastructure, hybrid cloud, security, networking, communications and storage solutions, and system components.

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

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