TD SYNNEX Co. (NYSE:SNX) Shares Bought by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC grew its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 39.0% during the third quarter, HoldingsChannel reports. The firm owned 825,468 shares of the business services provider’s stock after purchasing an additional 231,715 shares during the quarter. Lord Abbett & CO. LLC’s holdings in TD SYNNEX were worth $99,123,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SNX. Hancock Whitney Corp lifted its position in TD SYNNEX by 57.9% during the second quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock worth $1,954,000 after buying an additional 6,207 shares during the period. ClariVest Asset Management LLC lifted its holdings in shares of TD SYNNEX by 45,552.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 16,435 shares of the business services provider’s stock worth $1,897,000 after acquiring an additional 16,399 shares during the period. Pathstone Holdings LLC boosted its position in shares of TD SYNNEX by 45.2% in the third quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after acquiring an additional 5,698 shares during the last quarter. Intech Investment Management LLC purchased a new stake in TD SYNNEX in the second quarter valued at approximately $1,634,000. Finally, Meeder Asset Management Inc. increased its position in TD SYNNEX by 4,293.7% during the second quarter. Meeder Asset Management Inc. now owns 13,840 shares of the business services provider’s stock worth $1,597,000 after purchasing an additional 13,525 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Price Performance

SNX stock opened at $123.24 on Friday. The firm has a market cap of $10.49 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 1.14 and a beta of 1.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. TD SYNNEX Co. has a 1 year low of $98.70 and a 1 year high of $133.85. The stock has a 50-day simple moving average of $120.25 and a 200-day simple moving average of $119.33.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data 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 company had revenue of $14.68 billion for 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 business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.71 earnings per share. On average, equities analysts predict that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently declared 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 was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.30%. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.70%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 15,689 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at $15,751,172.58. The trade was a 10.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the transaction, the insider now owns 23,339 shares in the company, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,645 shares of company stock valued at $8,415,189 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

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