Point72 Hong Kong Ltd Purchases 20,280 Shares of TD SYNNEX Co. (NYSE:SNX)

Point72 Hong Kong Ltd grew its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 321.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,593 shares of the business services provider's stock after purchasing an additional 20,280 shares during the quarter. Point72 Hong Kong Ltd's holdings in TD SYNNEX were worth $3,193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of TD SYNNEX by 9.6% in 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 buying an additional 2,858 shares during the period. Public Employees Retirement System of Ohio lifted its position in TD SYNNEX by 13.1% in the first quarter. Public Employees Retirement System of Ohio now owns 24,973 shares of the business services provider's stock worth $2,824,000 after purchasing an additional 2,889 shares during the period. Janus Henderson Group PLC grew its holdings in TD SYNNEX by 77.6% during the first quarter. Janus Henderson Group PLC now owns 45,837 shares of the business services provider's stock worth $5,187,000 after acquiring an additional 20,024 shares during the period. California State Teachers Retirement System increased its holdings in shares of TD SYNNEX by 3.5% in the first quarter. California State Teachers Retirement System now owns 58,946 shares of the business services provider's stock valued at $6,667,000 after buying an additional 1,974 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new position in shares of TD SYNNEX in the 1st quarter valued at $406,000. Hedge funds and other institutional investors own 84.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SNX. Barclays raised their price target 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. Loop Capital restated a "buy" rating and issued a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Barrington Research restated an "outperform" rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. StockNews.com raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Friday, August 16th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $134.75.

Insider Transactions at TD SYNNEX

In other news, insider Simon Leung sold 6,249 shares of the stock in a transaction on 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 of the company's stock, valued at $2,874,664.63. This represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the business's 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 completion of the sale, the director now directly owns 171,080 shares in the company, valued at approximately $20,652,777.60. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,645 shares of company stock worth $8,414,329 over the last 90 days. 1.90% of the stock is owned by insiders.

TD SYNNEX Price Performance

SNX traded down $0.78 during trading on Friday, hitting $118.99. The company's stock had a trading volume of 299,448 shares, compared to its average volume of 530,387. The firm's 50 day moving average price is $119.24 and its two-hundred day moving average price is $119.60. 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 stock has a market capitalization of $10.12 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48. TD SYNNEX Co. has a 12 month low of $96.93 and a 12 month high of $133.85.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly 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. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The business had revenue of $14.68 billion for the quarter, compared to the consensus estimate of $14.11 billion. During the same quarter in the prior year, the company earned $2.71 EPS. The firm's quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts forecast that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced 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 1.34%. TD SYNNEX's dividend payout ratio (DPR) is currently 20.70%.

About TD SYNNEX

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.