TD SYNNEX Co. (NYSE:SNX) Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 109.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,003 shares of the business services provider's stock after acquiring an additional 5,761 shares during the period. Y Intercept Hong Kong Ltd's holdings in TD SYNNEX were worth $1,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its position in shares of TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider's stock valued at $891,665,000 after acquiring an additional 1,154,651 shares during the period. Pacer Advisors Inc. grew its position in TD SYNNEX by 58.9% during the 2nd 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 2nd quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider's stock worth $258,482,000 after purchasing an additional 177,460 shares during the period. State Street Corp grew its position in TD SYNNEX by 0.7% during the 3rd quarter. State Street Corp now owns 2,189,732 shares of the business services provider's stock worth $262,943,000 after purchasing an additional 15,995 shares during the period. Finally, AQR Capital Management LLC grew its position in TD SYNNEX by 21.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider's stock worth $178,421,000 after purchasing an additional 269,759 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Price Performance

Shares of SNX stock traded up $1.38 during mid-day trading on Thursday, hitting $124.50. 604,492 shares of the stock were exchanged, compared to its average volume of 765,878. The company has a market cap of $10.59 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.14 and a beta of 1.47. TD SYNNEX Co. has a 52-week low of $98.70 and a 52-week high of $133.85. The firm has a fifty day moving average of $119.95 and a 200 day moving average of $119.34. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

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 for the quarter, beating analysts' consensus estimates of $2.80 by $0.06. The firm had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. TD SYNNEX's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $2.71 EPS. Research analysts anticipate that TD SYNNEX Co. will post 11.03 earnings per share for the current 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 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Friday, October 11th. TD SYNNEX's dividend payout ratio is presently 20.70%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider David R. Vetter sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $123.14, for a total value of $2,462,800.00. Following the transaction, the insider now directly owns 66,381 shares of the company's stock, valued at $8,174,156.34. This trade represents a 23.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dennis Polk sold 15,689 shares of the firm'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 completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at $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. In the last three months, insiders have sold 69,645 shares of company stock valued at $8,415,189. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SNX. Barclays increased their price target on TD SYNNEX from $131.00 to $132.00 and gave the stock an "equal weight" rating in a research report on Friday, September 27th. Loop Capital reaffirmed a "buy" rating and set a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Barrington Research reaffirmed an "outperform" rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Royal Bank of Canada reissued an "outperform" rating and set a $140.00 target price on shares of TD SYNNEX in a research note on Friday, September 27th. Finally, StockNews.com lowered shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.75.

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.