Geode Capital Management LLC Acquires 3,134 Shares of TD SYNNEX Co. (NYSE:SNX)

Geode Capital Management LLC raised its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 0.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,314,880 shares of the business services provider’s stock after purchasing an additional 3,134 shares during the period. Geode Capital Management LLC’s holdings in TD SYNNEX were worth $157,931,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. M&T Bank Corp raised its position in shares of TD SYNNEX by 13.5% in the 3rd quarter. M&T Bank Corp now owns 2,188 shares of the business services provider’s stock worth $263,000 after purchasing an additional 261 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in TD SYNNEX by 109.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 11,003 shares of the business services provider’s stock valued at $1,321,000 after purchasing an additional 5,761 shares in the last quarter. XTX Topco Ltd purchased a new position in TD SYNNEX in the third quarter worth about $219,000. iSAM Funds UK Ltd bought a new position in shares of TD SYNNEX in the third quarter worth approximately $500,000. Finally, iA Global Asset Management Inc. purchased a new stake in shares of TD SYNNEX during the third quarter valued at approximately $9,695,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Price Performance

NYSE SNX opened at $124.73 on Tuesday. The company has a 50-day moving average price of $120.37 and a 200-day moving average price of $119.15. TD SYNNEX Co. has a 52 week low of $98.70 and a 52 week high of $133.85. 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 firm has a market capitalization of $10.61 billion, a P/E ratio of 16.14, a PEG ratio of 1.14 and a beta of 1.47.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share 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 period last year, the firm earned $2.71 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Equities 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. Shareholders of record on Friday, October 11th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Ann F. Vezina sold 1,937 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total value of $234,590.07. Following the completion of the sale, the director now owns 5,695 shares in the company, valued at approximately $689,721.45. This represents a 25.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Dennis Polk sold 15,689 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 134,706 shares in the company, valued at $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. Insiders have sold 69,645 shares of company stock valued at $8,415,189 over the last quarter. 1.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SNX has been the subject of a number of recent analyst reports. Barclays boosted their price objective 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. Barrington Research restated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research report on Friday, September 27th. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Loop Capital reaffirmed a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.75.

TD SYNNEX 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.