TD SYNNEX Co. (NYSE:SNX) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 0.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,949 shares of the business services provider’s stock after selling 862 shares during the quarter. Franklin Resources Inc.’s holdings in TD SYNNEX were worth $15,207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SNX. FMR LLC lifted its position in TD SYNNEX by 18.4% during the third 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 period. Pacer Advisors Inc. lifted its holdings in shares of TD SYNNEX by 58.9% during the 2nd 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 during the period. Thrivent Financial for Lutherans boosted its position in shares of TD SYNNEX by 560.0% in the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock worth $44,639,000 after acquiring an additional 315,424 shares during the last quarter. AQR Capital Management LLC grew its holdings in TD SYNNEX by 21.1% in the second quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock valued at $178,421,000 after purchasing an additional 269,759 shares during the period. Finally, Hsbc Holdings PLC increased its position in TD SYNNEX by 339.8% during the second quarter. Hsbc Holdings PLC now owns 267,229 shares of the business services provider’s stock worth $30,780,000 after purchasing an additional 206,473 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the transaction, the chief financial officer now directly owns 48,362 shares of the company’s stock, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dennis Polk sold 15,689 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,751,172.58. This trade represents a 10.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,155 shares of company stock worth $8,598,095 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

TD SYNNEX Stock Down 0.5 %

Shares of NYSE:SNX opened at $116.90 on Friday. The company has a market capitalization 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 company has a 50 day moving average of $120.23 and a two-hundred day moving average of $119.04. TD SYNNEX Co. has a 52-week low of $98.70 and a 52-week 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.

TD SYNNEX (NYSE:SNX) last released its quarterly 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. The business 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%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $2.71 EPS. As a group, analysts forecast that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently issued reports on SNX shares. Barclays boosted their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Loop Capital restated a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research note on Monday, October 7th. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research report on Friday, September 27th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Four investment 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, TD SYNNEX currently has a consensus rating of “Moderate Buy” and an average target price of $134.75.

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.