Bridgewater Associates LP Acquires 64,452 Shares of TD SYNNEX Co. (NYSE:SNX)

Bridgewater Associates LP raised its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 493.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 77,506 shares of the business services provider’s stock after purchasing an additional 64,452 shares during the quarter. Bridgewater Associates LP’s holdings in TD SYNNEX were worth $9,307,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SNX. Hancock Whitney Corp lifted its stake in TD SYNNEX by 57.9% in the second quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock valued at $1,954,000 after buying an additional 6,207 shares during the period. Wedge Capital Management L L P NC raised its position in shares of TD SYNNEX by 20.3% in the 2nd quarter. Wedge Capital Management L L P NC now owns 31,146 shares of the business services provider’s stock valued at $3,594,000 after acquiring an additional 5,252 shares during the period. Friedenthal Financial bought a new position in TD SYNNEX during the 2nd quarter worth approximately $967,000. ClariVest Asset Management LLC grew its holdings in TD SYNNEX by 45,552.8% during the second quarter. ClariVest Asset Management LLC now owns 16,435 shares of the business services provider’s stock valued at $1,897,000 after purchasing an additional 16,399 shares during the period. Finally, Tidal Investments LLC increased its stake in TD SYNNEX by 55.7% in the first quarter. Tidal Investments LLC now owns 17,508 shares of the business services provider’s stock valued at $1,980,000 after purchasing an additional 6,265 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Activity

In related news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction dated 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 transaction, the director now owns 171,080 shares in the company, valued at approximately $20,652,777.60. This trade represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 shares were sold at an average price of $116.93, for a total value of $1,834,514.77. Following the completion of the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,751,172.58. The trade was a 10.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,645 shares of company stock valued at $8,414,329. 1.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SNX has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. Barrington Research reissued an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Loop Capital reiterated a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, Barclays raised their target price 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.75.

TD SYNNEX Price Performance

Shares of SNX opened at $119.77 on Friday. 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 Co. has a twelve month low of $96.93 and a twelve month high of $133.85. The stock has a market capitalization of $10.19 billion, a P/E ratio of 15.49, a P/E/G ratio of 1.21 and a beta of 1.48. The company has a 50 day moving average of $119.21 and a 200-day moving average of $119.65.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.80 by $0.06. The firm had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.71 EPS. As a group, equities research analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio 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.