Fifth Third Bancorp Sells 649 Shares of TD SYNNEX Corporation $SNX

Fifth Third Bancorp lessened its stake in shares of TD SYNNEX Corporation (NYSE:SNX) by 44.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 827 shares of the business services provider’s stock after selling 649 shares during the period. Fifth Third Bancorp’s holdings in TD SYNNEX were worth $112,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of SNX. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in TD SYNNEX by 329.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider’s stock worth $25,000 after acquiring an additional 188 shares in the last quarter. Versant Capital Management Inc raised its stake in TD SYNNEX by 115.1% in the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock valued at $36,000 after buying an additional 183 shares during the period. Cullen Frost Bankers Inc. bought a new stake in TD SYNNEX in the first quarter valued at approximately $44,000. Quarry LP bought a new stake in TD SYNNEX in the first quarter valued at approximately $51,000. Finally, SVB Wealth LLC bought a new stake in TD SYNNEX in the first quarter valued at approximately $72,000. Institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on SNX shares. UBS Group upped their price objective on TD SYNNEX from $154.00 to $187.00 and gave the company a “buy” rating in a research note on Monday. JPMorgan Chase & Co. upped their price objective on TD SYNNEX from $143.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Bank of America upped their price objective on TD SYNNEX from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Barrington Research upped their price objective on TD SYNNEX from $156.00 to $182.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Morgan Stanley upped their price objective on TD SYNNEX from $173.00 to $181.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.55.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Alim Dhanji sold 1,257 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $142.41, for a total value of $179,009.37. Following the sale, the insider owned 10,984 shares of the company’s stock, valued at approximately $1,564,231.44. This trade represents a 10.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Marshall Witt sold 861 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $149.84, for a total value of $129,012.24. Following the completion of the sale, the chief financial officer directly owned 49,777 shares in the company, valued at approximately $7,458,585.68. This represents a 1.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,930 shares of company stock valued at $430,163. 1.00% of the stock is currently owned by corporate insiders.

TD SYNNEX Trading Up 0.4%

Shares of NYSE:SNX opened at $164.40 on Thursday. The company has a market capitalization of $13.56 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.33 and a beta of 1.43. TD SYNNEX Corporation has a 1 year low of $92.23 and a 1 year high of $167.76. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.20 and a quick ratio of 0.71. The business’s 50 day simple moving average is $149.64 and its 200 day simple moving average is $131.51.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, October 17th. TD SYNNEX’s dividend payout ratio (DPR) is currently 19.09%.

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.