National Bank of Canada FI Reduces Position in TD SYNNEX Co. (NYSE:SNX)

National Bank of Canada FI reduced its stake in TD SYNNEX Co. (NYSE:SNX) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,933 shares of the business services provider’s stock after selling 715 shares during the quarter. National Bank of Canada FI’s holdings in TD SYNNEX were worth $1,160,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Gladius Capital Management LP boosted its stake in shares of TD SYNNEX by 50.8% during the 3rd quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock worth $74,000 after purchasing an additional 250 shares during the last quarter. Signaturefd LLC grew its stake in TD SYNNEX by 28.9% in the 3rd quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock worth $95,000 after acquiring an additional 214 shares during the period. Fifth Third Bancorp raised its holdings in TD SYNNEX by 19.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,444 shares of the business services provider’s stock valued at $144,000 after acquiring an additional 233 shares during the last quarter. 9258 Wealth Management LLC acquired a new stake in shares of TD SYNNEX during the fourth quarter worth $207,000. Finally, Shelton Capital Management purchased a new stake in shares of TD SYNNEX in the third quarter valued at $207,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised their price target on TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Barclays boosted their target price on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $118.00 price target (up previously from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. Cfra upped their price objective on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a report on Tuesday, March 26th. Finally, UBS Group upgraded TD SYNNEX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $115.00 to $145.00 in a report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TD SYNNEX has a consensus rating of “Moderate Buy” and a consensus price target of $121.82.

TD SYNNEX Trading Up 1.1 %

Shares of SNX opened at $123.33 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75. TD SYNNEX Co. has a 12 month low of $87.26 and a 12 month high of $123.38. The stock has a market cap of $10.99 billion, a PE ratio of 17.90, a P/E/G ratio of 1.14 and a beta of 1.59. The stock’s 50-day moving average is $113.14 and its two-hundred day moving average is $105.65.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. The firm had revenue of $13.98 billion during the quarter, compared to analysts’ expectations of $14.37 billion. Equities analysts forecast that TD SYNNEX Co. will post 11.38 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.30%. TD SYNNEX’s dividend payout ratio (DPR) is 23.22%.

Insider Transactions at TD SYNNEX

In related news, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the transaction, the chief executive officer now directly owns 229,363 shares in the company, valued at $24,213,851.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.57, for a total value of $1,055,700.00. Following the transaction, the chief executive officer now owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the transaction, the insider now owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,000 shares of company stock worth $4,575,600. 1.90% of the stock is currently owned by corporate insiders.

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.