Hancock Whitney Corp Acquires 173 Shares of TD SYNNEX Co. (NYSE:SNX)

Hancock Whitney Corp boosted its holdings in TD SYNNEX Co. (NYSE:SNX) by 1.0% during the third quarter, Holdings Channel.com reports. The fund owned 17,102 shares of the business services provider’s stock after buying an additional 173 shares during the quarter. Hancock Whitney Corp’s holdings in TD SYNNEX were worth $2,054,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SNX. Journey Advisory Group LLC purchased a new position in shares of TD SYNNEX during the third quarter worth about $238,000. English Capital Management LLC increased its holdings in shares of TD SYNNEX by 0.8% in the 3rd quarter. English Capital Management LLC now owns 36,898 shares of the business services provider’s stock worth $4,431,000 after buying an additional 300 shares during the last quarter. Cerity Partners LLC raised its position in shares of TD SYNNEX by 51.3% during the 3rd quarter. Cerity Partners LLC now owns 16,792 shares of the business services provider’s stock valued at $2,016,000 after buying an additional 5,691 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of TD SYNNEX by 9.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 44,882 shares of the business services provider’s stock worth $5,646,000 after acquiring an additional 3,995 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in shares of TD SYNNEX by 19.4% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 523,639 shares of the business services provider’s stock worth $62,879,000 after acquiring an additional 85,207 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

NYSE:SNX opened at $120.97 on Tuesday. 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’s fifty day simple moving average is $119.03 and its 200 day simple moving average is $119.66. The stock has a market cap of $10.29 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48. TD SYNNEX Co. has a twelve month low of $96.93 and a twelve month high of $133.85.

TD SYNNEX (NYSE:SNX) last announced 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 net margin of 1.20% and a return on equity of 12.15%. The firm had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. During the same quarter in the previous year, the firm posted $2.71 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts predict that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s payout ratio is presently 20.70%.

Insider Activity at TD SYNNEX

In other news, Director Ann F. Vezina sold 1,937 shares of TD SYNNEX stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 5,695 shares in the company, valued at approximately $689,721.45. This trade represents a 25.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the sale, the insider now owns 23,339 shares in the company, valued at $2,874,664.63. The trade was a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,645 shares of company stock worth $8,414,329 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SNX. Loop Capital restated a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. 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 upped their target price on 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 reissued an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. Finally, StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and an average 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.