Foster & Motley Inc. Grows Stake in TD SYNNEX Co. (NYSE:SNX)

Foster & Motley Inc. grew its position in TD SYNNEX Co. (NYSE:SNX) by 70.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,514 shares of the business services provider’s stock after buying an additional 3,925 shares during the quarter. Foster & Motley Inc.’s holdings in TD SYNNEX were worth $1,098,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SNX. Nordea Investment Management AB grew its holdings in TD SYNNEX by 38.5% during the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock worth $172,081,000 after acquiring an additional 421,908 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in TD SYNNEX by 63.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 164,999 shares of the business services provider’s stock valued at $17,756,000 after buying an additional 64,024 shares during the period. Norges Bank bought a new position in TD SYNNEX in the fourth quarter worth approximately $79,506,000. Principal Financial Group Inc. lifted its holdings in TD SYNNEX by 1.9% during the fourth quarter. Principal Financial Group Inc. now owns 733,239 shares of the business services provider’s stock worth $78,904,000 after buying an additional 13,730 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in shares of TD SYNNEX in the 1st quarter valued at $57,981,000. Institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. UBS Group increased their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Bank of America cut their price target on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. JPMorgan Chase & Co. dropped their target price on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Finally, Barrington Research reissued an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.33.

TD SYNNEX Stock Performance

SNX opened at $113.31 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47. TD SYNNEX Co. has a 12-month low of $89.73 and a 12-month high of $133.85. The firm has a 50 day moving average of $115.80 and a two-hundred day moving average of $116.55. The firm has a market capitalization of $9.68 billion, a PE ratio of 15.87, a P/E/G ratio of 1.21 and a beta of 1.49.

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 the consensus estimate of $2.66 by ($0.05). TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The business had revenue of $13.95 billion for the quarter, compared to analysts’ expectations of $14.12 billion. On average, analysts anticipate that TD SYNNEX Co. will post 11.22 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Friday, July 12th. TD SYNNEX’s dividend payout ratio is currently 22.41%.

Insider Activity at TD SYNNEX

In other news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total value of $1,260,111.74. Following the sale, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction on 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 directly owns 134,706 shares in the company, valued at approximately $15,580,095.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,188 shares of company stock worth $3,998,655. 1.90% of the stock is owned by corporate insiders.

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.