TD SYNNEX Co. (NYSE:SNX) Shares Acquired by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC increased its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 179.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,304 shares of the business services provider’s stock after purchasing an additional 3,409 shares during the quarter. Capstone Investment Advisors LLC’s holdings in TD SYNNEX were worth $637,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SNX. Price T Rowe Associates Inc. MD lifted its position in shares of TD SYNNEX by 9.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,760 shares of the business services provider’s stock worth $3,706,000 after purchasing an additional 2,858 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of TD SYNNEX by 13.1% during the 1st quarter. Public Employees Retirement System of Ohio now owns 24,973 shares of the business services provider’s stock worth $2,824,000 after acquiring an additional 2,889 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of TD SYNNEX by 77.6% in the 1st quarter. Janus Henderson Group PLC now owns 45,837 shares of the business services provider’s stock valued at $5,187,000 after acquiring an additional 20,024 shares during the last quarter. California State Teachers Retirement System raised its position in shares of TD SYNNEX by 3.5% during the 1st quarter. California State Teachers Retirement System now owns 58,946 shares of the business services provider’s stock worth $6,667,000 after acquiring an additional 1,974 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in TD SYNNEX by 55.7% during the first quarter. Tidal Investments LLC now owns 17,508 shares of the business services provider’s stock worth $1,980,000 after purchasing an additional 6,265 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Price Performance

Shares of SNX opened at $118.99 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. TD SYNNEX Co. has a fifty-two week low of $96.93 and a fifty-two week high of $133.85. The firm has a 50-day simple moving average of $119.22 and a 200-day simple moving average of $119.65. The company has a market capitalization of $10.12 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.21 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) 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. The company had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $2.71 EPS. On average, equities research analysts anticipate that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently declared 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. The ex-dividend date was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.34%. TD SYNNEX’s dividend payout ratio (DPR) is 20.70%.

Insider Buying and Selling

In related news, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, 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 SEC, which is available at this link. Also, insider Dennis Polk sold 15,689 shares of the firm’s stock in a transaction 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. This trade represents a 10.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,645 shares of company stock valued at $8,414,329 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SNX. Barrington Research reissued an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a report on Monday, September 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research note on Friday, September 27th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Loop Capital reaffirmed a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. Finally, Barclays boosted their target price on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, TD SYNNEX 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.