Eagle Asset Management Inc. Buys 3,995 Shares of TD SYNNEX Co. (NYSE:SNX)

Eagle Asset Management Inc. lifted its stake in TD SYNNEX Co. (NYSE:SNX) by 9.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,882 shares of the business services provider’s stock after purchasing an additional 3,995 shares during the period. Eagle Asset Management Inc. owned 0.05% of TD SYNNEX worth $5,646,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its holdings in TD SYNNEX by 58.9% during the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock worth $313,469,000 after acquiring an additional 1,006,569 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of TD SYNNEX by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock valued at $258,482,000 after purchasing an additional 177,460 shares during the period. AQR Capital Management LLC raised its stake in shares of TD SYNNEX by 21.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock valued at $178,421,000 after purchasing an additional 269,759 shares during the period. Ninety One UK Ltd raised its stake in shares of TD SYNNEX by 131.0% in the 2nd quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock valued at $158,298,000 after purchasing an additional 777,924 shares during the period. Finally, LSV Asset Management raised its stake in shares of TD SYNNEX by 20.1% in the 2nd quarter. LSV Asset Management now owns 1,055,045 shares of the business services provider’s stock valued at $121,752,000 after purchasing an additional 176,571 shares during the period. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Stock Performance

Shares of SNX opened at $118.82 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The stock has a 50-day moving average of $118.89 and a 200-day moving average of $119.66. The company has a market cap of $10.11 billion, a PE ratio of 15.37, a P/E/G ratio of 1.17 and a beta of 1.48. TD SYNNEX Co. has a one year low of $96.93 and a one year high of $133.85.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06. The business 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 quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.71 EPS. On average, equities research analysts predict that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.35%. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.70%.

Insider Buying and Selling

In related news, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the sale, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David R. Vetter sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $123.14, for a total transaction of $2,462,800.00. Following the completion of the sale, the insider now directly owns 66,381 shares in the company, valued at $8,174,156.34. This trade represents a 23.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,645 shares of company stock valued at $8,414,329. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SNX has been the topic of a number of recent research reports. 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. Barrington Research restated an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a report on Monday, September 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Friday, September 27th. Loop Capital reiterated a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a research note on Monday, October 7th. Finally, StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.