TD SYNNEX Co. (NYSE:SNX) Shares Bought by Huntington National Bank

Huntington National Bank grew its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 12,380.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 624 shares of the business services provider’s stock after purchasing an additional 619 shares during the period. Huntington National Bank’s holdings in TD SYNNEX were worth $75,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SNX. Vanguard Group Inc. grew its position in TD SYNNEX by 23.4% in the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock valued at $751,143,000 after buying an additional 1,261,474 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of TD SYNNEX by 58.9% in the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock valued at $313,469,000 after acquiring an additional 1,006,569 shares in the last quarter. Ninety One UK Ltd boosted its holdings 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 acquiring an additional 777,924 shares in the last quarter. Lind Value II ApS acquired a new position in shares of TD SYNNEX during the first quarter valued at approximately $77,858,000. Finally, AQR Capital Management LLC raised its holdings in TD SYNNEX by 21.1% during the second quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock worth $178,421,000 after purchasing an additional 269,759 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

TD SYNNEX Stock Performance

Shares of SNX opened at $116.30 on Tuesday. TD SYNNEX Co. has a one year low of $96.93 and a one year high of $133.85. The company has a 50-day moving average of $118.46 and a two-hundred day moving average of $119.75. 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 market cap of $9.90 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.17 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.06. The firm had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.71 EPS. On average, equities research analysts expect that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm 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. This represents a $1.60 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s dividend payout ratio is currently 20.70%.

Insiders Place Their Bets

In other TD SYNNEX news, Director Ann F. Vezina sold 1,937 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total value of $234,590.07. Following the completion of the sale, the director now owns 5,695 shares in the company, valued at $689,721.45. This represents a 25.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now owns 23,339 shares in the company, valued at approximately $2,874,664.63. This represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,645 shares of company stock worth $8,414,329. 1.90% of the stock is currently owned by company insiders.

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.