Truist Financial Corp Decreases Position in TD SYNNEX Co. (NYSE:SNX)

Truist Financial Corp cut its stake in shares of TD SYNNEX Co. (NYSE:SNXGet Rating) by 11.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,821 shares of the business services provider’s stock after selling 647 shares during the period. Truist Financial Corp’s holdings in TD SYNNEX were worth $391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new stake in TD SYNNEX during the second quarter valued at approximately $27,000. Ronald Blue Trust Inc. raised its position in TD SYNNEX by 143.8% during the third quarter. Ronald Blue Trust Inc. now owns 295 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 174 shares during the period. Ellevest Inc. grew its stake in shares of TD SYNNEX by 902.5% during the second quarter. Ellevest Inc. now owns 401 shares of the business services provider’s stock valued at $37,000 after buying an additional 361 shares during the last quarter. Wipfli Financial Advisors LLC bought a new position in shares of TD SYNNEX during the third quarter valued at approximately $45,000. Finally, Quadrant Capital Group LLC grew its stake in shares of TD SYNNEX by 169.6% during the second quarter. Quadrant Capital Group LLC now owns 550 shares of the business services provider’s stock valued at $50,000 after buying an additional 346 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNX has been the topic of a number of analyst reports. Credit Suisse Group upped their target price on TD SYNNEX from $103.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, January 11th. Barrington Research upped their target price on TD SYNNEX from $98.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, January 11th. Cfra cut their target price on TD SYNNEX from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, September 27th. Raymond James cut their target price on TD SYNNEX from $175.00 to $140.00 in a research note on Wednesday, September 28th. Finally, StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Wednesday, January 11th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.63.

TD SYNNEX Stock Down 1.2 %

Shares of NYSE SNX opened at $109.02 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.70 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $10.42 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The stock’s fifty day simple moving average is $100.57 and its two-hundred day simple moving average is $96.01. TD SYNNEX Co. has a 12-month low of $78.86 and a 12-month high of $115.14.

TD SYNNEX (NYSE:SNXGet Rating) last announced its earnings results on Tuesday, January 10th. The business services provider reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.45. TD SYNNEX had a return on equity of 14.08% and a net margin of 1.04%. The business had revenue of $16.25 billion for the quarter, compared to analysts’ expectations of $15.78 billion. As a group, analysts expect that TD SYNNEX Co. will post 12.09 EPS for the current fiscal year.

TD SYNNEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 20th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, January 19th. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.30. TD SYNNEX’s dividend payout ratio is currently 20.65%.

Insider Activity

In other news, CFO Marshall Witt sold 609 shares of the stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $102.10, for a total transaction of $62,178.90. Following the completion of the sale, the chief financial officer now owns 51,789 shares in the company, valued at approximately $5,287,656.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Marshall Witt sold 609 shares of the stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $102.10, for a total transaction of $62,178.90. Following the completion of the sale, the chief financial officer now owns 51,789 shares in the company, valued at approximately $5,287,656.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Patrick Zammit sold 5,000 shares of the firm’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $91.00, for a total value of $455,000.00. Following the completion of the transaction, the insider now owns 106,463 shares of the company’s stock, valued at approximately $9,688,133. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,403 shares of company stock worth $2,007,866. Insiders own 1.60% of the company’s stock.

TD SYNNEX Profile

(Get Rating)

TD SYNNEX Corp. engages in the provision of a range of distribution, systems design, and integration solutions for the technology industry. The firm offers products from original equipment manufacturers as well as suppliers of technologies. It operates through the following geographical segments: Americas, Europe, and Asia-Pacific and Japan.

Read More

Institutional Ownership by Quarter for TD SYNNEX (NYSE:SNX)

Receive News & Ratings for TD SYNNEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TD SYNNEX and related companies with MarketBeat.com's FREE daily email newsletter.