US Bancorp DE Decreases Stock Position in TD SYNNEX Co. (NYSE:SNX)

US Bancorp DE cut its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 11.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,130 shares of the business services provider’s stock after selling 636 shares during the quarter. US Bancorp DE’s holdings in TD SYNNEX were worth $616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in shares of TD SYNNEX during the third quarter valued at approximately $30,000. UMB Bank n.a. boosted its position in TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after buying an additional 144 shares during the period. Kathleen S. Wright Associates Inc. bought a new stake in TD SYNNEX in the 3rd quarter worth $37,000. Blue Trust Inc. increased its position in shares of TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 123 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of TD SYNNEX by 217.5% during the second quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 311 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Barclays upped their target price on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Friday, September 27th. Loop Capital restated a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.75.

TD SYNNEX Stock Performance

Shares of SNX opened at $125.79 on Monday. The business’s 50 day moving average price is $118.08 and its 200-day moving average price is $119.72. The stock has a market cap of $10.70 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.27 and a beta of 1.48. TD SYNNEX Co. has a 52 week low of $92.66 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.

TD SYNNEX (NYSE:SNX) last issued 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 return on equity of 12.15% and a net margin of 1.20%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the company earned $2.71 earnings per share. Equities research analysts anticipate that TD SYNNEX Co. will post 11.03 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, October 25th. Stockholders of record on Friday, October 11th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

Insider Activity at TD SYNNEX

In related news, Director Ann F. Vezina sold 1,937 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 5,695 shares of the company’s stock, valued at approximately $689,721.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other TD SYNNEX news, Director Ann F. Vezina sold 1,937 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total transaction of $234,590.07. Following the transaction, the director now owns 5,695 shares in the company, valued at approximately $689,721.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marshall Witt sold 5,653 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.15, for a total transaction of $684,860.95. Following the sale, the chief financial officer now directly owns 38,279 shares in the company, valued at approximately $4,637,500.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,645 shares of company stock valued at $8,414,329 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

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.