Crossmark Global Holdings Inc. Acquires 775 Shares of TD SYNNEX Co. (NYSE:SNX)

Crossmark Global Holdings Inc. boosted its holdings in TD SYNNEX Co. (NYSE:SNX) by 17.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,187 shares of the business services provider’s stock after purchasing an additional 775 shares during the period. Crossmark Global Holdings Inc.’s holdings in TD SYNNEX were worth $599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. boosted its stake in shares of TD SYNNEX by 121.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after buying an additional 140 shares during the last quarter. Rise Advisors LLC bought a new position in TD SYNNEX in the first quarter valued at approximately $32,000. Pineridge Advisors LLC acquired a new position in shares of TD SYNNEX during the 4th quarter worth approximately $33,000. Blue Trust Inc. raised its stake in shares of TD SYNNEX by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after purchasing an additional 123 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of TD SYNNEX by 217.5% in the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock valued at $52,000 after buying an additional 311 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNX has been the topic of a number of recent analyst reports. Bank of America lowered their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. UBS Group upped their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. JPMorgan Chase & Co. reduced their price target on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Royal Bank of Canada raised TD SYNNEX from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $135.00 to $140.00 in a research report on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.33.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the sale, the insider now directly owns 134,706 shares in the company, valued at $15,580,095.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the transaction, the chief financial officer now owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,071 shares of company stock worth $3,985,182. Company insiders own 1.90% of the company’s stock.

TD SYNNEX Stock Performance

SNX opened at $121.42 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78. The company has a market capitalization of $10.38 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.21 and a beta of 1.52. The business has a fifty day simple moving average of $116.04 and a 200 day simple moving average of $116.34. TD SYNNEX Co. has a 1 year low of $89.73 and a 1 year high of $133.85.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The business had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $14.12 billion. Research analysts expect that TD SYNNEX Co. will post 11.22 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were given a $0.40 dividend. The ex-dividend date was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.32%. TD SYNNEX’s payout ratio is 22.41%.

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.