Bridgewater Associates LP Purchases 64,452 Shares of TD SYNNEX Co. (NYSE:SNX)

Bridgewater Associates LP increased its position in shares of TD SYNNEX Co. (NYSE:SNX) by 493.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,506 shares of the business services provider’s stock after buying an additional 64,452 shares during the period. Bridgewater Associates LP owned 0.09% of TD SYNNEX worth $9,307,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in TD SYNNEX during the third quarter valued at about $30,000. UMB Bank n.a. boosted its stake 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 purchasing an additional 144 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in TD SYNNEX in the 3rd quarter valued at approximately $37,000. Blue Trust Inc. increased its position in TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after buying an additional 123 shares during the period. Finally, GAMMA Investing LLC lifted its holdings 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 worth $52,000 after buying an additional 311 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $119.77 on Friday. The business has a 50 day simple moving average of $119.21 and a 200 day simple moving average of $119.65. 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 company has a market capitalization of $10.19 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.21 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 issued its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The company had revenue of $14.68 billion for the quarter, compared to the consensus estimate of $14.11 billion. During the same quarter in the previous year, the company earned $2.71 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s payout ratio is currently 20.70%.

Insider Buying and Selling

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the sale, the insider now owns 23,339 shares in the company, valued at approximately $2,874,664.63. This trade represents a 21.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David R. Vetter sold 20,000 shares of the company’s 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 transaction, the insider now owns 66,381 shares in the company, valued at $8,174,156.34. The trade was a 23.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,645 shares of company stock worth $8,414,329 in the last three months. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

About TD SYNNEX

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.