Caisse DE Depot ET Placement DU Quebec Takes $2.71 Million Position in TD SYNNEX Co. (NYSE:SNX)

Caisse DE Depot ET Placement DU Quebec acquired a new position in TD SYNNEX Co. (NYSE:SNX - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,589 shares of the business services provider's stock, valued at approximately $2,712,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of TD SYNNEX by 9.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,760 shares of the business services provider's stock valued at $3,706,000 after purchasing an additional 2,858 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of TD SYNNEX in the first quarter worth about $406,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of TD SYNNEX by 22.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 16,594 shares of the business services provider's stock worth $1,877,000 after acquiring an additional 3,000 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of TD SYNNEX by 550.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 26,000 shares of the business services provider's stock valued at $2,893,000 after acquiring an additional 22,000 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of TD SYNNEX by 217.5% in the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider's stock valued at $52,000 after acquiring an additional 311 shares in the last quarter. Institutional investors own 84.00% of the company's stock.

TD SYNNEX Stock Performance

SNX traded up $0.25 on Tuesday, hitting $122.36. 428,284 shares of the stock traded hands, compared to its average volume of 772,779. The business has a fifty day moving average price of $119.31 and a two-hundred day moving average price of $119.55. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 52 week low of $96.93 and a 52 week high of $133.85. The firm has a market capitalization of $10.41 billion, a PE ratio of 15.83, a P/E/G ratio of 1.13 and a beta of 1.47.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The firm 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. TD SYNNEX's quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts predict that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.31%. TD SYNNEX's dividend payout ratio is currently 20.70%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SNX shares. Barrington Research reaffirmed an "outperform" rating and set a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. StockNews.com upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Friday, August 16th. Barclays lifted their target price on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an "equal weight" rating in a report on Friday, September 27th. Royal Bank of Canada restated 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 issued a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $134.75.

Insider Buying and Selling

In related news, insider Simon Leung sold 6,249 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the sale, the insider now owns 23,339 shares in the company, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dennis Polk sold 15,689 shares of the business's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the completion of the transaction, the insider now owns 134,706 shares in the company, valued at approximately $15,751,172.58. This trade represents a 10.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,645 shares of company stock worth $8,414,329 in the last 90 days. 1.90% of the stock is owned by company insiders.

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.