Raymond James & Associates Trims Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Raymond James & Associates decreased its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 2.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,032 shares of the business services provider's stock after selling 5,852 shares during the quarter. Raymond James & Associates owned about 0.26% of TD SYNNEX worth $26,782,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNX. Nordea Investment Management AB lifted its stake in shares of TD SYNNEX by 38.5% during the first quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider's stock worth $172,081,000 after buying an additional 421,908 shares during the period. Goldman Sachs Group Inc. lifted its position in TD SYNNEX by 63.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 164,999 shares of the business services provider's stock worth $17,756,000 after acquiring an additional 64,024 shares during the period. Hancock Whitney Corp grew its stake in TD SYNNEX by 57.9% during the 2nd quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider's stock valued at $1,954,000 after purchasing an additional 6,207 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of TD SYNNEX in the first quarter valued at about $57,981,000. Finally, Wedge Capital Management L L P NC raised its stake in shares of TD SYNNEX by 20.3% in the second quarter. Wedge Capital Management L L P NC now owns 31,146 shares of the business services provider's stock worth $3,594,000 after purchasing an additional 5,252 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNX has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $140.00 target price on shares of TD SYNNEX in a research report on Friday, September 27th. Barrington Research reiterated an "outperform" rating and set a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Barclays upped their target price on TD SYNNEX from $131.00 to $132.00 and gave the stock an "equal weight" rating in a research note on Friday, September 27th. StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Friday, August 16th. Finally, Loop Capital restated a "buy" rating and issued a $150.00 price objective 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 given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $134.75.

Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total value of $2,414,400.00. Following the transaction, the director now owns 171,080 shares in the company, valued at approximately $20,652,777.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the transaction, the director now owns 171,080 shares in the company, valued at $20,652,777.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Marshall Witt sold 11,441 shares of the company's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the sale, the chief financial officer now directly owns 45,115 shares of the company's stock, valued at $4,968,966.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 74,954 shares of company stock worth $8,918,668. Corporate insiders own 1.90% of the company's stock.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock traded down $0.14 on Friday, reaching $120.58. The company's stock had a trading volume of 501,205 shares, compared to its average volume of 799,875. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $10.26 billion, a P/E ratio of 15.62, a PEG ratio of 1.22 and a beta of 1.48. The stock has a 50-day moving average price of $118.04 and a 200-day moving average price of $119.22. TD SYNNEX Co. has a 52-week low of $89.73 and a 52-week high of $133.85.

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

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.33%. TD SYNNEX's dividend payout ratio (DPR) is currently 20.70%.

TD SYNNEX Company 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.