TD SYNNEX Co. (NYSE:SNX) Shares Bought by American International Group Inc.

American International Group Inc. lifted its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 9.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,516 shares of the business services provider’s stock after acquiring an additional 6,220 shares during the quarter. American International Group Inc.’s holdings in TD SYNNEX were worth $8,541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Burgundy Asset Management Ltd. increased its position in shares of TD SYNNEX by 1.1% during the first quarter. Burgundy Asset Management Ltd. now owns 565,761 shares of the business services provider’s stock worth $63,988,000 after acquiring an additional 6,119 shares during the period. Seven Eight Capital LP increased its position in shares of TD SYNNEX by 1,165.9% during the first quarter. Seven Eight Capital LP now owns 27,052 shares of the business services provider’s stock worth $3,060,000 after acquiring an additional 24,915 shares during the period. Ameritas Investment Partners Inc. increased its position in shares of TD SYNNEX by 11.1% during the first quarter. Ameritas Investment Partners Inc. now owns 12,579 shares of the business services provider’s stock worth $1,423,000 after acquiring an additional 1,254 shares during the period. Bahl & Gaynor Inc. purchased a new stake in shares of TD SYNNEX during the first quarter worth $203,000. Finally, Covestor Ltd increased its position in shares of TD SYNNEX by 31.1% during the first quarter. Covestor Ltd now owns 1,658 shares of the business services provider’s stock worth $188,000 after acquiring an additional 393 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

NYSE SNX traded up $0.55 during trading hours on Thursday, hitting $116.84. The company had a trading volume of 274,506 shares, compared to its average volume of 898,242. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.26. TD SYNNEX Co. has a 1-year low of $89.73 and a 1-year high of $133.85. The company has a market cap of $9.99 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.17 and a beta of 1.52. The business has a 50 day moving average of $123.01 and a 200-day moving average of $113.64.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Tuesday, June 25th. The business services provider reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.66 by ($0.05). TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The company had revenue of $13.95 billion during the quarter, compared to analyst estimates of $14.12 billion. As a group, equities research analysts expect that TD SYNNEX Co. will post 11.24 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be paid a $0.40 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.60 annualized dividend and a yield of 1.37%. TD SYNNEX’s dividend payout ratio is presently 22.41%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Bank of America dropped their target price on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Barrington Research reissued an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a report on Wednesday, June 26th. Royal Bank of Canada raised TD SYNNEX from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $135.00 to $140.00 in a report on Monday, July 15th. UBS Group increased their target price on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Barclays increased their target price on TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.33.

Insider Buying and Selling at TD SYNNEX

In other news, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at $15,580,095.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at $15,580,095.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the sale, the chief executive officer now owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The disclosure for this sale can be found here. Insiders sold 33,513 shares of company stock worth $3,869,053 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

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.