HB Wealth Management LLC Decreases Stock Holdings in TD SYNNEX Corporation $SNX

HB Wealth Management LLC reduced its position in shares of TD SYNNEX Corporation (NYSE:SNX) by 17.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,299 shares of the business services provider’s stock after selling 501 shares during the quarter. HB Wealth Management LLC’s holdings in TD SYNNEX were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of TD SYNNEX in the first quarter valued at about $121,259,000. JPMorgan Chase & Co. increased its holdings in TD SYNNEX by 16.9% during the 1st quarter. JPMorgan Chase & Co. now owns 3,899,974 shares of the business services provider’s stock valued at $405,441,000 after purchasing an additional 564,473 shares during the period. Boston Partners raised its position in TD SYNNEX by 321.6% during the 1st quarter. Boston Partners now owns 591,958 shares of the business services provider’s stock valued at $61,547,000 after purchasing an additional 451,567 shares during the last quarter. Abrams Bison Investments LLC raised its position in TD SYNNEX by 19.4% during the 1st quarter. Abrams Bison Investments LLC now owns 2,683,000 shares of the business services provider’s stock valued at $278,925,000 after purchasing an additional 435,000 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in TD SYNNEX by 42.7% in the 1st quarter. Invesco Ltd. now owns 788,182 shares of the business services provider’s stock worth $81,939,000 after buying an additional 235,753 shares during the period. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

Shares of SNX opened at $158.06 on Tuesday. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 1.24 and a beta of 1.43. The business’s fifty day simple moving average is $150.44 and its two-hundred day simple moving average is $132.19. TD SYNNEX Corporation has a 12 month low of $92.23 and a 12 month high of $167.76. The company has a current ratio of 1.20, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36.

TD SYNNEX Announces Dividend

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

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SNX shares. The Goldman Sachs Group boosted their target price on TD SYNNEX from $145.00 to $164.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. Barclays boosted their price objective on shares of TD SYNNEX from $140.00 to $164.00 and gave the company an “equal weight” rating in a research report on Friday, September 26th. UBS Group upped their price objective on shares of TD SYNNEX from $154.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Royal Bank Of Canada raised their target price on shares of TD SYNNEX from $165.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, September 26th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of TD SYNNEX in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $169.55.

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.