Franklin Resources Inc. Reduces Holdings in TD SYNNEX Co. (NYSE:SNX)

Franklin Resources Inc. cut its stake in TD SYNNEX Co. (NYSE:SNX) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,949 shares of the business services provider’s stock after selling 862 shares during the period. Franklin Resources Inc. owned about 0.15% of TD SYNNEX worth $15,207,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in shares of TD SYNNEX in the 3rd quarter valued at about $30,000. UMB Bank n.a. increased its position in TD SYNNEX by 99.3% during the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after buying an additional 144 shares during the period. Kathleen S. Wright Associates Inc. purchased a new stake in TD SYNNEX in the third quarter valued at approximately $37,000. Blue Trust Inc. boosted its holdings in shares of TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 123 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of TD SYNNEX in the 2nd quarter valued at $52,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $116.90 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 12-month low of $98.70 and a 12-month high of $133.85. The company has a market cap of $9.95 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 1.14 and a beta of 1.47. The stock has a 50 day simple moving average of $120.23 and a 200-day simple moving average of $119.04.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.80 by $0.06. The company had revenue of $14.68 billion for 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%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.71 EPS. On average, equities analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.37%. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.70%.

Insider Activity

In other news, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the transaction, the insider now owns 23,339 shares of the company’s stock, valued at $2,874,664.63. The trade was a 21.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the completion of the sale, the director now owns 171,080 shares in the company, valued at $20,652,777.60. This represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 71,155 shares of company stock worth $8,598,095. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on SNX shares. Loop Capital reiterated a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research note on Monday, October 7th. Barclays raised their price target on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Barrington Research restated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and a consensus price target of $134.75.

About TD SYNNEX

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.