Swiss National Bank lowered its holdings in shares of TD SYNNEX Co. (NYSE:SNX – Free Report) by 10.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,885 shares of the business services provider’s stock after selling 11,200 shares during the period. Swiss National Bank owned approximately 0.10% of TD SYNNEX worth $8,990,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CoreCap Advisors LLC bought a new position in shares of TD SYNNEX in the fourth quarter worth approximately $33,000. Dark Forest Capital Management LP bought a new position in shares of TD SYNNEX in the fourth quarter worth approximately $38,000. Advisors Asset Management Inc. bought a new position in shares of TD SYNNEX in the first quarter worth approximately $51,000. Ronald Blue Trust Inc. lifted its stake in shares of TD SYNNEX by 61.4% in the first quarter. Ronald Blue Trust Inc. now owns 707 shares of the business services provider’s stock worth $67,000 after buying an additional 269 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of TD SYNNEX by 91.5% in the first quarter. Covestor Ltd now owns 697 shares of the business services provider’s stock worth $72,000 after buying an additional 333 shares in the last quarter. Institutional investors own 84.54% of the company’s stock.
TD SYNNEX Price Performance
SNX stock opened at $99.46 on Friday. TD SYNNEX Co. has a 52 week low of $78.86 and a 52 week high of $111.57. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $97.22 and a two-hundred day simple moving average of $94.56. The firm has a market capitalization of $9.32 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 1.13 and a beta of 1.62.
TD SYNNEX Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 14th were issued a $0.35 dividend. The ex-dividend date was Thursday, July 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.41%. TD SYNNEX’s dividend payout ratio (DPR) is presently 19.94%.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of TD SYNNEX in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Credit Suisse Group reduced their target price on shares of TD SYNNEX from $106.00 to $90.00 in a report on Wednesday, June 28th. The Goldman Sachs Group started coverage on shares of TD SYNNEX in a report on Monday, May 1st. They set a “buy” rating and a $101.00 target price for the company. Bank of America reduced their target price on shares of TD SYNNEX from $120.00 to $115.00 in a report on Wednesday, June 28th. Finally, Loop Capital reduced their price objective on shares of TD SYNNEX from $150.00 to $120.00 in a research note on Wednesday, July 5th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and a consensus target price of $108.27.
Check Out Our Latest Stock Report on TD SYNNEX
Insider Transactions at TD SYNNEX
In other news, CFO Marshall Witt sold 1,082 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $98.09, for a total value of $106,133.38. Following the completion of the sale, the chief financial officer now owns 50,893 shares in the company, valued at approximately $4,992,094.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Apollo Management Holdings Gp, sold 2,300,000 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $94.50, for a total value of $217,350,000.00. Following the transaction, the insider now owns 35,499,882 shares of the company’s stock, valued at approximately $3,354,738,849. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Marshall Witt sold 1,082 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $98.09, for a total transaction of $106,133.38. Following the completion of the transaction, the chief financial officer now directly owns 50,893 shares in the company, valued at approximately $4,992,094.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,355,287 shares of company stock worth $222,563,007. 1.70% of the stock is currently owned by insiders.
TD SYNNEX Company 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.
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