Foster & Motley Inc. Raises Holdings in TD SYNNEX Corporation (NYSE:SNX)

Foster & Motley Inc. increased its position in TD SYNNEX Corporation (NYSE:SNX) by 56.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,573 shares of the business services provider’s stock after buying an additional 12,465 shares during the period. Foster & Motley Inc.’s holdings in TD SYNNEX were worth $3,594,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its holdings in shares of TD SYNNEX by 9.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider’s stock valued at $125,000 after acquiring an additional 90 shares during the last quarter. Ellevest Inc. raised its position in TD SYNNEX by 3.9% during the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider’s stock valued at $280,000 after purchasing an additional 90 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of TD SYNNEX by 1.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 6,063 shares of the business services provider’s stock valued at $630,000 after purchasing an additional 94 shares during the last quarter. Utah Retirement Systems boosted its holdings in shares of TD SYNNEX by 2.5% in the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider’s stock worth $481,000 after purchasing an additional 100 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in shares of TD SYNNEX by 0.6% in the 1st quarter. State of Michigan Retirement System now owns 18,021 shares of the business services provider’s stock worth $1,873,000 after purchasing an additional 100 shares during the period. 84.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Marshall Witt sold 1,509 shares of the company’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the sale, the chief financial officer directly owned 49,563 shares of the company’s stock, valued at $6,212,722.05. This represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alim Dhanji sold 1,257 shares of the firm’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 directly owned 10,984 shares in the company, valued at $1,564,231.44. This trade represents a 10.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,076 shares of company stock worth $8,992,884. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and set a $145.00 price target on shares of TD SYNNEX in a report on Wednesday, June 25th. Wall Street Zen raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, June 27th. Morgan Stanley set a $155.00 target price on shares of TD SYNNEX and gave the stock an “overweight” rating in a report on Wednesday, June 25th. Loop Capital lifted their price target on shares of TD SYNNEX from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Finally, Barclays set a $140.00 price objective on shares of TD SYNNEX in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.30.

TD SYNNEX Trading Up 0.3%

SNX stock opened at $148.62 on Wednesday. TD SYNNEX Corporation has a 12 month low of $92.23 and a 12 month high of $149.75. The firm’s 50-day moving average is $132.85 and its 200 day moving average is $127.76. The company has a market capitalization of $12.26 billion, a PE ratio of 17.36, a P/E/G ratio of 1.21 and a beta of 1.30. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.28. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The business had revenue of $14.95 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same period last year, the company posted $2.73 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, research analysts anticipate that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Friday, July 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.56%.

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.