35,561 Shares in TD SYNNEX Co. (NYSE:SNX) Acquired by Moran Wealth Management LLC

Moran Wealth Management LLC purchased a new stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,561 shares of the business services provider's stock, valued at approximately $4,270,000.

Several other hedge funds have also added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of TD SYNNEX in the 3rd quarter valued at $30,000. UMB Bank n.a. boosted its holdings in TD SYNNEX by 99.3% during the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider's stock worth $35,000 after buying an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of TD SYNNEX during the 3rd quarter worth about $37,000. Blue Trust Inc. increased its stake in shares of TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider's stock valued at $40,000 after acquiring an additional 123 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of TD SYNNEX in the 2nd quarter valued at approximately $52,000. Institutional investors own 84.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Barclays upped their target price on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an "equal weight" rating in a research note on Friday, September 27th. Barrington Research reaffirmed an "outperform" rating and set a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Loop Capital reissued a "buy" rating and issued a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. Finally, StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Friday, August 16th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, TD SYNNEX has a consensus rating of "Moderate Buy" and an average price target of $134.75.

Insider Activity at TD SYNNEX

In other news, insider Dennis Polk sold 15,689 shares of TD SYNNEX stock in a transaction 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 completion of the sale, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 5,653 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, October 9th. The shares were 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,645 shares of company stock worth $8,414,329. Insiders own 1.90% of the company's stock.

TD SYNNEX Stock Up 0.5 %

TD SYNNEX stock traded up $0.53 during mid-day trading on Thursday, reaching $116.55. The company's stock had a trading volume of 325,025 shares, compared to its average volume of 778,681. The business's 50 day simple moving average is $118.78 and its 200 day simple moving average is $119.68. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. TD SYNNEX Co. has a 12 month low of $96.93 and a 12 month high of $133.85. The company has a market capitalization of $9.92 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 1.15 and a beta of 1.48.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.06. The business had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. TD SYNNEX's revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.71 earnings per share. As a group, research analysts anticipate that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX's dividend payout ratio (DPR) is presently 20.70%.

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.