Loomis Sayles & Co. L P cut its holdings in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 8.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 315,799 shares of the business services provider's stock after selling 29,614 shares during the quarter. Loomis Sayles & Co. L P owned 0.37% of TD SYNNEX worth $37,921,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in SNX. Pacer Advisors Inc. grew its stake in TD SYNNEX by 58.9% in the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider's stock valued at $313,469,000 after purchasing an additional 1,006,569 shares in the last quarter. Ninety One UK Ltd grew its stake in shares of TD SYNNEX by 131.0% in the 2nd quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider's stock valued at $158,298,000 after buying an additional 777,924 shares in the last quarter. Lind Value II ApS bought a new position in TD SYNNEX during the first quarter valued at approximately $77,858,000. Thrivent Financial for Lutherans raised its position in TD SYNNEX by 560.0% during the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider's stock valued at $44,639,000 after acquiring an additional 315,424 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in TD SYNNEX by 21.1% in the second quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider's stock worth $178,421,000 after acquiring an additional 269,759 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.
TD SYNNEX Stock Performance
Shares of NYSE:SNX traded down $0.32 during trading on Tuesday, hitting $120.65. 578,839 shares of the stock were exchanged, compared to its average volume of 777,024. The company's fifty day simple moving average is $119.03 and its 200-day simple moving average is $119.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48. TD SYNNEX Co. has a 1-year low of $96.93 and a 1-year high of $133.85.
TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly 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 firm had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. During the same quarter in the previous year, the firm posted $2.71 EPS. The business's revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts expect that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.
TD SYNNEX Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.33%. The ex-dividend date was Friday, October 11th. TD SYNNEX's dividend payout ratio is 20.70%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on SNX shares. StockNews.com raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Friday, August 16th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. Barrington Research reissued an "outperform" rating and set a $138.00 price objective on shares of TD SYNNEX in a report on Monday, September 23rd. Barclays boosted their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an "equal weight" rating in a research note on Friday, September 27th. Finally, Loop Capital reaffirmed a "buy" rating and issued a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $134.75.
Read Our Latest Stock Report on SNX
Insiders Place Their Bets
In other TD SYNNEX news, CFO Marshall Witt sold 5,653 shares of the business's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.15, for a total transaction of $684,860.95. Following the completion of the sale, the chief financial officer now directly owns 38,279 shares of the company's stock, valued at approximately $4,637,500.85. The trade was a 12.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Dennis Polk sold 15,689 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the sale, the insider now directly owns 134,706 shares of the company's stock, 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 over the last three months. 1.90% of the stock is currently owned by corporate insiders.
About TD SYNNEX
(
Free Report)
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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