OLD Mission Capital LLC Buys Shares of 39,879 TD SYNNEX Co. (NYSE:SNX)

OLD Mission Capital LLC purchased a new position in shares of TD SYNNEX Co. (NYSE:SNX) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 39,879 shares of the business services provider’s stock, valued at approximately $4,510,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. grew its holdings in shares of TD SYNNEX by 121.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after buying an additional 140 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of TD SYNNEX during the first quarter worth about $32,000. Pineridge Advisors LLC purchased a new stake in shares of TD SYNNEX during the fourth quarter worth about $33,000. Daiwa Securities Group Inc. purchased a new stake in shares of TD SYNNEX during the first quarter worth about $68,000. Finally, Kapitalo Investimentos Ltda grew its holdings in shares of TD SYNNEX by 75.6% during the fourth quarter. Kapitalo Investimentos Ltda now owns 1,582 shares of the business services provider’s stock worth $170,000 after buying an additional 681 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Stock Up 1.9 %

Shares of SNX stock traded up $2.18 on Friday, hitting $118.30. The stock had a trading volume of 258,878 shares, compared to its average volume of 896,329. The stock’s 50 day moving average is $122.82 and its 200-day moving average is $113.66. The firm has a market capitalization of $10.11 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 1.15 and a beta of 1.52. TD SYNNEX Co. has a 52-week low of $89.73 and a 52-week high of $133.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.26.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Tuesday, June 25th. The business services provider reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). The firm had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $14.12 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. As a group, research analysts expect that TD SYNNEX Co. will post 11.24 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 1.35%. TD SYNNEX’s dividend payout ratio is presently 22.41%.

Insider Activity

In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the transaction, the chief executive officer now directly owns 219,363 shares in the company, valued at approximately $25,400,041.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the transaction, the chief executive officer now directly owns 219,363 shares in the company, valued at approximately $25,400,041.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Patrick Zammit sold 3,513 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the transaction, the chief operating officer now owns 140,205 shares in the company, valued at $15,882,422.40. The disclosure for this sale can be found here. Insiders sold 33,513 shares of company stock worth $3,869,053 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

SNX has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. UBS Group raised their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Bank of America decreased their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Royal Bank of Canada raised shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $135.00 to $140.00 in a research report on Monday, July 15th. Finally, Barrington Research reissued an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.33.

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.