Foster & Motley Inc. Has $288,000 Holdings in TD SYNNEX Co. (NYSE:SNX)

Foster & Motley Inc. lessened its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,067 shares of the business services provider’s stock after selling 141 shares during the quarter. Foster & Motley Inc.’s holdings in TD SYNNEX were worth $288,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. boosted its stake in shares of TD SYNNEX by 95.2% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 410 shares of the business services provider’s stock worth $40,000 after acquiring an additional 200 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in TD SYNNEX by 99.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 436 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 217 shares during the period. Advisors Asset Management Inc. bought a new stake in TD SYNNEX during the 1st quarter valued at approximately $51,000. Covestor Ltd boosted its stake in TD SYNNEX by 91.5% during the 1st quarter. Covestor Ltd now owns 697 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 333 shares during the period. Finally, Signaturefd LLC boosted its stake in TD SYNNEX by 17.8% during the 1st quarter. Signaturefd LLC now owns 1,057 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 160 shares during the period. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Trading Down 0.8 %

SNX stock opened at $93.11 on Friday. The business has a fifty day moving average price of $96.96 and a 200 day moving average price of $95.34. TD SYNNEX Co. has a fifty-two week low of $86.30 and a fifty-two week high of $111.57. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 1.07 and a beta of 1.61. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.23 and a quick ratio of 0.75.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, September 26th. The business services provider reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.31. TD SYNNEX had a return on equity of 12.95% and a net margin of 1.45%. The firm had revenue of $13.96 billion during the quarter, compared to analysts’ expectations of $14.11 billion. During the same period last year, the firm posted $2.69 EPS. The business’s revenue was down 9.1% on a year-over-year basis. Analysts expect that TD SYNNEX Co. will post 10.45 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 13th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, October 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.50%. TD SYNNEX’s payout ratio is presently 20.11%.

Wall Street Analyst Weigh In

SNX has been the subject of several recent analyst reports. The Goldman Sachs Group increased their target price on TD SYNNEX from $100.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, September 27th. Barrington Research raised their price objective on TD SYNNEX from $115.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday, September 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $97.00 price objective on shares of TD SYNNEX in a research report on Wednesday, September 27th. Barclays raised their price objective on TD SYNNEX from $98.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 27th. Finally, JPMorgan Chase & Co. reduced their price objective on TD SYNNEX from $118.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, September 27th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.27.

Insider Activity

In related news, major shareholder Star Developments Ltd Silver sold 69,130 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $95.16, for a total value of $6,578,410.80. Following the transaction, the insider now directly owns 2,064,649 shares in the company, valued at $196,471,998.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other TD SYNNEX news, major shareholder Star Developments Ltd Silver sold 69,130 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $95.16, for a total value of $6,578,410.80. Following the transaction, the insider now directly owns 2,064,649 shares of the company’s stock, valued at $196,471,998.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Developments Ltd Peer sold 335,652 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $95.51, for a total transaction of $32,058,122.52. Following the completion of the transaction, the insider now directly owns 3,524,236 shares in the company, valued at $336,599,780.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,224,990 shares of company stock valued at $117,096,617. 1.70% of the stock is currently owned by insiders.

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.