Geode Capital Management LLC Purchases 3,134 Shares of TD SYNNEX Co. (NYSE:SNX)

Geode Capital Management LLC boosted its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 0.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,314,880 shares of the business services provider’s stock after buying an additional 3,134 shares during the period. Geode Capital Management LLC owned approximately 1.55% of TD SYNNEX worth $157,931,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNX. FMR LLC increased its holdings in shares of TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after buying an additional 1,154,651 shares during the last quarter. Pacer Advisors Inc. grew its position in 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 worth $313,469,000 after acquiring an additional 1,006,569 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in TD SYNNEX by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock valued at $258,482,000 after acquiring an additional 177,460 shares during the last quarter. State Street Corp raised its position in TD SYNNEX by 0.7% during the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock valued at $262,943,000 after purchasing an additional 15,995 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake 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 during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Trading Up 1.2 %

Shares of SNX opened at $124.73 on Tuesday. The stock has a market capitalization of $10.61 billion, a P/E ratio of 16.14, a PEG ratio of 1.14 and a beta of 1.47. TD SYNNEX Co. has a twelve month low of $98.70 and a twelve month high of $133.85. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $120.37 and a two-hundred day simple moving average of $119.15.

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

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.28%. TD SYNNEX’s dividend payout ratio is presently 20.70%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SNX. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a report on Friday, September 27th. Barclays lifted their price target 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. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Loop Capital reiterated a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.75.

Insider Buying and Selling

In related news, Director Ann F. Vezina sold 1,937 shares of the stock in a transaction dated 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 transaction, the director now directly owns 5,695 shares of the company’s stock, valued at $689,721.45. This represents a 25.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the sale, the insider now directly owns 23,339 shares in the company, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,645 shares of company stock valued at $8,415,189 over the last quarter. 1.90% of the stock is owned by company 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.