25,000 Shares in TD SYNNEX Co. (NYSE:SNX) Bought by Resolute Capital Asset Partners LLC

Resolute Capital Asset Partners LLC bought a new stake in shares of TD SYNNEX Co. (NYSE:SNX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 25,000 shares of the business services provider’s stock, valued at approximately $2,885,000. TD SYNNEX comprises 1.6% of Resolute Capital Asset Partners LLC’s investment portfolio, making the stock its 25th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of SNX. Vanguard Group Inc. lifted its stake in TD SYNNEX by 23.4% during the first quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock valued at $751,143,000 after buying an additional 1,261,474 shares in the last quarter. Ninety One UK Ltd raised its holdings in shares of TD SYNNEX by 131.0% during the second quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock valued at $158,298,000 after acquiring an additional 777,924 shares during the period. Norges Bank purchased a new stake in shares of TD SYNNEX in the 4th quarter valued at approximately $79,506,000. Lind Value II ApS acquired a new position in TD SYNNEX in the 1st quarter worth approximately $77,858,000. Finally, Lord Abbett & CO. LLC purchased a new position in TD SYNNEX during the 1st quarter worth approximately $57,981,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

SNX has been the subject of several recent analyst reports. UBS Group raised their target price on TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Bank of America decreased their price objective on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Barrington Research reiterated an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a report on Wednesday, June 26th. Royal Bank of Canada raised shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $135.00 to $140.00 in a research report on Monday, July 15th. Finally, StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, TD SYNNEX has a consensus rating of “Moderate Buy” and an average price target of $127.33.

Insiders Place Their Bets

In other news, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the transaction, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Marshall Witt sold 11,441 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the sale, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the transaction, the insider now owns 134,706 shares in the company, valued at approximately $15,580,095.96. The disclosure for this sale can be found here. Insiders sold 35,188 shares of company stock valued at $3,998,655 over the last quarter. Insiders own 1.90% of the company’s stock.

TD SYNNEX Trading Down 0.5 %

Shares of NYSE SNX opened at $115.58 on Thursday. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.10 and a beta of 1.49. The business has a 50 day simple moving average of $115.71 and a 200 day simple moving average of $117.29. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.26. TD SYNNEX Co. has a 52 week low of $89.73 and a 52 week high of $133.85.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Tuesday, June 25th. The business services provider reported $2.61 EPS for the quarter, missing the consensus estimate of $2.66 by ($0.05). The business had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $14.12 billion. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. On average, research analysts predict that TD SYNNEX Co. will post 11.22 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, July 12th. This represents a $1.60 annualized dividend and a yield of 1.38%. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.41%.

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.