Hancock Whitney Corp grew its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 57.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,929 shares of the business services provider's stock after buying an additional 6,207 shares during the quarter. Hancock Whitney Corp's holdings in TD SYNNEX were worth $1,954,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in SNX. Vanguard Group Inc. boosted its position in TD SYNNEX by 23.4% during the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider's stock worth $751,143,000 after acquiring an additional 1,261,474 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of TD SYNNEX by 58.9% during the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider's stock worth $313,469,000 after purchasing an additional 1,006,569 shares during the period. Dimensional Fund Advisors LP grew its position in TD SYNNEX by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider's stock valued at $258,482,000 after purchasing an additional 177,460 shares in the last quarter. Nordea Investment Management AB increased its stake in TD SYNNEX by 38.5% in the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider's stock valued at $172,081,000 after buying an additional 421,908 shares during the period. Finally, Ninety One UK Ltd lifted its position in 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 worth $158,298,000 after buying an additional 777,924 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at TD SYNNEX
In other news, insider Dennis Polk sold 20,000 shares of the firm's stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the sale, the insider now owns 134,706 shares in the company, valued at $15,580,095.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at $15,580,095.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Marshall Witt sold 11,441 shares of the business's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the transaction, the chief financial officer now owns 45,115 shares in the company, valued at $4,968,966.10. The disclosure for this sale can be found here. Insiders sold a total of 35,188 shares of company stock worth $3,998,655 over the last three months. 1.90% of the stock is currently owned by insiders.
TD SYNNEX Stock Performance
Shares of NYSE:SNX traded down $0.80 during trading on Friday, reaching $118.03. The stock had a trading volume of 3,054,923 shares, compared to its average volume of 829,290. The stock has a fifty day simple moving average of $116.04 and a two-hundred day simple moving average of $117.47. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. TD SYNNEX Co. has a 52 week low of $89.73 and a 52 week high of $133.85. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 1.13 and a beta of 1.49.
TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results on Tuesday, June 25th. The business services provider reported $2.61 EPS for the quarter, missing the consensus estimate of $2.66 by ($0.05). TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The firm had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $14.12 billion. As a group, analysts anticipate that TD SYNNEX Co. will post 11.22 earnings per share for the current fiscal year.
TD SYNNEX Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.36%. The ex-dividend date was Friday, July 12th. TD SYNNEX's dividend payout ratio is currently 22.41%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on SNX. Barrington Research reaffirmed an "outperform" rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Wednesday, June 26th. JPMorgan Chase & Co. cut their price target on TD SYNNEX from $126.00 to $123.00 and set a "neutral" rating for the company in a research note on Wednesday, June 26th. Royal Bank of Canada raised TD SYNNEX from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $135.00 to $140.00 in a research note on Monday, July 15th. StockNews.com raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Friday, August 16th. Finally, Bank of America decreased their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a "buy" rating for the company in a research report on Thursday, June 27th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $128.25.
Check Out Our Latest Stock Report on SNX
TD SYNNEX Company Profile
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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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