AE Wealth Management LLC purchased a new position in TD SYNNEX Co. (NYSE:SNX – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 29,949 shares of the business services provider’s stock, valued at approximately $2,815,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of SNX. American Century Companies Inc. lifted its stake in shares of TD SYNNEX by 31.5% in the first quarter. American Century Companies Inc. now owns 20,197 shares of the business services provider’s stock worth $2,085,000 after buying an additional 4,841 shares in the last quarter. US Bancorp DE lifted its stake in shares of TD SYNNEX by 11.6% in the first quarter. US Bancorp DE now owns 7,213 shares of the business services provider’s stock worth $745,000 after buying an additional 747 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of TD SYNNEX by 7.6% in the first quarter. PNC Financial Services Group Inc. now owns 9,614 shares of the business services provider’s stock worth $992,000 after buying an additional 677 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of TD SYNNEX by 202.3% in the first quarter. Bank of Montreal Can now owns 53,183 shares of the business services provider’s stock worth $5,569,000 after buying an additional 35,593 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of TD SYNNEX in the first quarter worth about $1,065,000. 84.00% of the stock is owned by hedge funds and other institutional investors.
TD SYNNEX Price Performance
TD SYNNEX stock opened at $102.04 on Friday. The company’s 50 day simple moving average is $99.51 and its 200-day simple moving average is $94.82. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 1.17 and a beta of 1.61. TD SYNNEX Co. has a 1 year low of $78.86 and a 1 year high of $111.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.30.
TD SYNNEX Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, July 13th. TD SYNNEX’s dividend payout ratio (DPR) is currently 19.94%.
Insider Activity at TD SYNNEX
In related news, CEO Richard T. Hume sold 15,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $92.61, for a total value of $1,389,150.00. Following the completion of the transaction, the chief executive officer now owns 178,150 shares in the company, valued at $16,498,471.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other TD SYNNEX news, CEO Richard T. Hume sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $92.61, for a total transaction of $1,389,150.00. Following the completion of the transaction, the chief executive officer now owns 178,150 shares in the company, valued at approximately $16,498,471.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Apollo Management Holdings Gp, sold 2,300,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $94.50, for a total transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 2,355,766 shares of company stock worth $222,785,736. Corporate insiders own 1.70% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on SNX shares. Barrington Research decreased their price target on shares of TD SYNNEX from $120.00 to $115.00 in a research note on Wednesday, June 28th. Loop Capital reduced their target price on shares of TD SYNNEX from $150.00 to $120.00 in a research note on Wednesday, July 5th. Credit Suisse Group reduced their target price on shares of TD SYNNEX from $106.00 to $90.00 in a research note on Wednesday, June 28th. Bank of America reduced their target price on shares of TD SYNNEX from $120.00 to $115.00 in a research note on Wednesday, June 28th. Finally, Barclays reduced their target price on shares of TD SYNNEX from $103.00 to $98.00 in a research note on Wednesday, June 28th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $109.18.
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.
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