TD SYNNEX Co. (NYSE:SNX) Shares Purchased by First Trust Advisors LP

Posted by Defense World Staff on May 21st, 2023

First Trust Advisors LP lifted its holdings in TD SYNNEX Co. (NYSE:SNX – Get Rating) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 227,531 shares of the business services provider’s stock after acquiring an additional 8,956 shares during the quarter. First Trust Advisors LP owned 0.24% of TD SYNNEX worth $21,549,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of TD SYNNEX by 2.0% in the third quarter. Vanguard Group Inc. now owns 4,215,710 shares of the business services provider’s stock worth $342,274,000 after acquiring an additional 84,548 shares during the period. BlackRock Inc. increased its stake in shares of TD SYNNEX by 6.0% in the third quarter. BlackRock Inc. now owns 3,732,192 shares of the business services provider’s stock worth $303,018,000 after acquiring an additional 211,608 shares during the period. Dimensional Fund Advisors LP boosted its holdings in TD SYNNEX by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,730,742 shares of the business services provider’s stock worth $163,921,000 after buying an additional 125,192 shares in the last quarter. River Road Asset Management LLC boosted its holdings in TD SYNNEX by 5.3% during the fourth quarter. River Road Asset Management LLC now owns 1,288,317 shares of the business services provider’s stock worth $122,017,000 after buying an additional 64,912 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in TD SYNNEX by 0.6% during the fourth quarter. Nordea Investment Management AB now owns 1,270,281 shares of the business services provider’s stock worth $120,130,000 after buying an additional 7,009 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

Insider Buying and Selling

In related news, insider Simon Leung sold 10,174 shares of the firm’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $88.47, for a total transaction of $900,093.78. Following the completion of the sale, the insider now directly owns 32,931 shares in the company, valued at $2,913,405.57. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Simon Leung sold 10,174 shares of the firm’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $88.47, for a total transaction of $900,093.78. Following the completion of the sale, the insider now directly owns 32,931 shares in the company, valued at $2,913,405.57. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dennis Polk sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $97.13, for a total transaction of $777,040.00. Following the sale, the insider now owns 132,402 shares of the company’s stock, valued at $12,860,206.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,998 shares of company stock worth $3,439,588. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of TD SYNNEX from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, March 29th. Stifel Nicolaus lowered their price target on shares of TD SYNNEX from $120.00 to $110.00 in a report on Tuesday, March 28th. Barrington Research lowered their price target on shares of TD SYNNEX from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 3rd. Raymond James lowered their price target on shares of TD SYNNEX from $140.00 to $130.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 29th. Finally, Cfra reaffirmed a “hold” rating and set a $100.00 price objective (down from $120.00) on shares of TD SYNNEX in a report on Tuesday, March 28th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, TD SYNNEX presently has an average rating of “Moderate Buy” and an average target price of $113.91.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $89.84 on Friday. The firm has a 50-day simple moving average of $91.05 and a 200-day simple moving average of $96.73. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 0.94 and a beta of 1.63. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. TD SYNNEX Co. has a 52 week low of $78.86 and a 52 week high of $111.57.

TD SYNNEX (NYSE:SNX – Get Rating) last issued its earnings results on Tuesday, March 28th. The business services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.08. The business had revenue of $15.13 billion during the quarter, compared to analysts’ expectations of $15.74 billion. TD SYNNEX had a net margin of 1.11% and a return on equity of 13.80%. On average, equities analysts predict that TD SYNNEX Co. will post 10.96 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Friday, April 14th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Thursday, April 13th. TD SYNNEX’s dividend payout ratio (DPR) is 19.55%.

TD SYNNEX Profile

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TD SYNNEX Corp. engages in the distribution and aggregation of solutions in the information technology ecosystem. It operates through the following geographical segments: Americas, Europe, and Asia-Pacific and Japan. The firm offers IT hardware, software, and systems including personal computing devices and peripherals, mobile phones and accessories, printers, server and datacenter infrastructure, hybrid cloud, security, networking, communications and storage solutions, and system components.