National Bank of Canada FI Has $1.02 Million Stock Position in TD SYNNEX Co. (NYSE:SNX)

National Bank of Canada FI cut its position in TD SYNNEX Co. (NYSE:SNX) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,455 shares of the business services provider’s stock after selling 485 shares during the period. National Bank of Canada FI’s holdings in TD SYNNEX were worth $1,015,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. bought a new stake in shares of TD SYNNEX during the second quarter valued at approximately $242,000. Blue Trust Inc. increased its stake in TD SYNNEX by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 123 shares in the last quarter. Neo Ivy Capital Management acquired a new position in TD SYNNEX during the second quarter worth $3,684,000. Ninety One UK Ltd lifted its stake in shares of TD SYNNEX by 131.0% in the second quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock valued at $158,298,000 after buying an additional 777,924 shares in the last quarter. Finally, Ninety One SA PTY Ltd grew its holdings in shares of TD SYNNEX by 0.6% during the second quarter. Ninety One SA PTY Ltd now owns 38,193 shares of the business services provider’s stock valued at $4,419,000 after buying an additional 245 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Stock Down 1.0 %

Shares of NYSE:SNX opened at $123.24 on Friday. TD SYNNEX Co. has a 1 year low of $98.70 and a 1 year high of $133.85. The company has a market capitalization of $10.49 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 1.14 and a beta of 1.47. The business has a fifty day moving average price of $120.25 and a two-hundred day moving average price of $119.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77.

TD SYNNEX (NYSE:SNX) last posted 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 company had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.71 earnings per share. Analysts forecast that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.30%. TD SYNNEX’s payout ratio is 20.70%.

Insider Buying and Selling at TD SYNNEX

In related news, CFO Marshall Witt sold 5,653 shares of TD SYNNEX stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.15, for a total value of $684,860.95. Following the completion of the sale, the chief financial officer now owns 38,279 shares of the company’s stock, valued at approximately $4,637,500.85. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the director now directly owns 5,695 shares in the company, valued at approximately $689,721.45. This trade represents a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,645 shares of company stock valued at $8,415,189. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SNX. Barrington Research restated an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a report on Monday, September 23rd. Loop Capital reissued a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. Barclays lifted their target price on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. Finally, StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.75.

TD SYNNEX 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.