Rockefeller Capital Management L.P. Increases Holdings in TD SYNNEX Co. (NYSE:SNX)

Rockefeller Capital Management L.P. increased its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 1.3% during the third quarter, HoldingsChannel.com reports. The firm owned 11,227 shares of the business services provider’s stock after buying an additional 141 shares during the period. Rockefeller Capital Management L.P.’s holdings in TD SYNNEX were worth $1,348,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new stake in shares of TD SYNNEX in the third quarter worth about $30,000. UMB Bank n.a. lifted its stake in TD SYNNEX by 99.3% in the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after purchasing an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in TD SYNNEX in the 3rd quarter valued at $37,000. Blue Trust Inc. boosted its holdings in TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 123 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of TD SYNNEX in the second quarter worth $52,000. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Up 1.0 %

Shares of NYSE SNX opened at $123.23 on Friday. The stock has a market capitalization of $10.49 billion, a P/E ratio of 15.94, a PEG ratio of 1.15 and a beta of 1.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. TD SYNNEX Co. has a one year low of $97.50 and a one year high of $133.85. The firm’s 50 day simple moving average is $119.65 and its two-hundred day simple moving average is $119.48.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping 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 company had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. During the same quarter last year, the company earned $2.71 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts expect that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a $0.40 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.30%. TD SYNNEX’s dividend payout ratio (DPR) is currently 20.70%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research report on Friday, September 27th. Barrington Research reiterated an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. Finally, Loop Capital reissued a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.75.

Insider Buying and Selling at TD SYNNEX

In related news, CFO Marshall Witt sold 5,653 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.15, for a total transaction of $684,860.95. Following the transaction, the chief financial officer now owns 38,279 shares in the company, valued at $4,637,500.85. The trade was a 12.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann F. Vezina sold 1,937 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total value of $234,590.07. Following the completion of the sale, the director now owns 5,695 shares of the company’s stock, valued at approximately $689,721.45. This trade represents a 25.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,645 shares of company stock worth $8,415,189. 1.90% of the stock is currently owned by insiders.

TD SYNNEX 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.