National Bank of Canada FI Trims Position in TD SYNNEX Co. (NYSE:SNX)

National Bank of Canada FI trimmed its position in TD SYNNEX Co. (NYSE:SNX) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,455 shares of the business services provider’s stock after selling 485 shares during the quarter. National Bank of Canada FI’s holdings in TD SYNNEX were worth $1,015,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SNX. Envestnet Portfolio Solutions Inc. bought a new stake in TD SYNNEX during the 2nd quarter worth approximately $242,000. Blue Trust Inc. grew its position in shares of TD SYNNEX by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 123 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of TD SYNNEX in the second quarter worth $3,684,000. Ninety One UK Ltd raised its position 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 worth $158,298,000 after buying an additional 777,924 shares in the last quarter. Finally, Ninety One SA PTY Ltd boosted its stake in TD SYNNEX by 0.6% during the second quarter. Ninety One SA PTY Ltd now owns 38,193 shares of the business services provider’s stock valued at $4,419,000 after buying an additional 245 shares during the period. 84.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at TD SYNNEX

In related news, CFO Marshall Witt sold 5,653 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.15, for a total value of $684,860.95. Following the completion of the sale, the chief financial officer now owns 38,279 shares of the company’s stock, valued at $4,637,500.85. This trade represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ann F. Vezina sold 1,937 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total transaction of $234,590.07. Following the transaction, the director now directly owns 5,695 shares in the company, valued at approximately $689,721.45. The trade was a 25.38 % 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 in the last quarter. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SNX. Loop Capital reaffirmed a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Barclays boosted 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. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research report on Friday, September 27th. Finally, StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Monday, December 9th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $134.75.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $123.24 on Friday. The company’s fifty day moving average is $120.25 and its 200 day moving average is $119.25. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 52 week low of $98.70 and a 52 week high of $133.85. The stock has a market cap of $10.49 billion, a PE ratio of 15.94, a PEG ratio of 1.14 and a beta of 1.47.

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

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a dividend of $0.40 per share. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.30%. TD SYNNEX’s payout ratio is currently 20.70%.

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.