Brass Tax Wealth Management Inc. Takes $203,000 Position in TD SYNNEX Co. (NYSE:SNX)

Brass Tax Wealth Management Inc. bought a new stake in shares of TD SYNNEX Co. (NYSE:SNX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,687 shares of the business services provider’s stock, valued at approximately $203,000.

A number of other large investors have also recently made changes to their positions in SNX. CIBC Asset Management Inc lifted its holdings in TD SYNNEX by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after acquiring an additional 86 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of TD SYNNEX by 3.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock valued at $315,000 after acquiring an additional 90 shares during the period. AlphaMark Advisors LLC increased its stake in shares of TD SYNNEX by 1.3% in the 3rd quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock worth $929,000 after purchasing an additional 100 shares in the last quarter. Fifth Third Bancorp grew its holdings in TD SYNNEX by 11.1% during the second quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock valued at $123,000 after purchasing an additional 106 shares during the period. Finally, Atria Investments Inc raised its stake in shares of TD SYNNEX by 4.1% in the third quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock worth $344,000 after buying an additional 112 shares during the period. 84.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on SNX shares. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Monday, December 9th. Barrington Research reissued an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Barclays lifted their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Finally, Loop Capital restated a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.75.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 15,689 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann F. Vezina sold 1,937 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total transaction of $234,590.07. Following the sale, the director now directly owns 5,695 shares in the company, valued at $689,721.45. This trade represents a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,645 shares of company stock valued at $8,415,189 over the last quarter. 1.90% of the stock is owned by corporate insiders.

TD SYNNEX Trading Down 1.0 %

SNX stock opened at $123.24 on Friday. The company has a market capitalization of $10.49 billion, a PE ratio of 15.94, a P/E/G ratio of 1.14 and a beta of 1.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. TD SYNNEX Co. has a 12 month low of $98.70 and a 12 month high of $133.85. The firm’s 50-day moving average is $120.25 and its 200 day moving average is $119.33.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.06. The firm had revenue of $14.68 billion during the quarter, compared to the consensus estimate 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 was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.71 earnings per share. On average, research analysts anticipate that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors 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 1.30%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) 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.