TD SYNNEX Co. (NYSE:SNX) Shares Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC grew its holdings in TD SYNNEX Co. (NYSE:SNX) by 39.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,119 shares of the business services provider’s stock after purchasing an additional 1,156 shares during the period. Pallas Capital Advisors LLC’s holdings in TD SYNNEX were worth $483,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. lifted its stake in shares of TD SYNNEX by 121.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of TD SYNNEX in the 1st quarter valued at $32,000. Pineridge Advisors LLC purchased a new stake in shares of TD SYNNEX in the 4th quarter valued at $33,000. Blue Trust Inc. raised its holdings in shares of TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after buying an additional 123 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of TD SYNNEX by 217.5% in the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock valued at $52,000 after buying an additional 311 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

Shares of SNX stock traded up $1.36 during trading hours on Wednesday, reaching $118.79. 70,295 shares of the company’s stock were exchanged, compared to its average volume of 856,394. The company has a market cap of $10.15 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 1.13 and a beta of 1.52. The company’s 50 day moving average is $117.61 and its two-hundred day moving average is $115.17. TD SYNNEX Co. has a 1 year low of $89.73 and a 1 year high of $133.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). The business had revenue of $13.95 billion for the quarter, compared to analysts’ expectations of $14.12 billion. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. Equities research analysts anticipate that TD SYNNEX Co. will post 11.22 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.35%. The ex-dividend date was Friday, July 12th. TD SYNNEX’s payout ratio is currently 22.41%.

Analysts Set New Price Targets

Several research firms recently issued reports on SNX. Royal Bank of Canada upgraded TD SYNNEX from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $135.00 to $140.00 in a report on Monday, July 15th. Barrington Research reiterated an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a report on Wednesday, June 26th. Bank of America cut their price objective on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. UBS Group boosted their price objective on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.33.

Insider Activity at TD SYNNEX

In related news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the transaction, the chief financial officer now owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The disclosure for this sale can be found here. Insiders sold 35,071 shares of company stock valued at $3,985,182 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

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.