TD SYNNEX Co. (NYSE:SNX) Stock Holdings Raised by Federated Hermes Inc.

Federated Hermes Inc. raised its stake in TD SYNNEX Co. (NYSE:SNX) by 30.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 284,698 shares of the business services provider’s stock after purchasing an additional 67,148 shares during the period. Federated Hermes Inc. owned 0.33% of TD SYNNEX worth $32,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SNX. Benjamin F. Edwards & Company Inc. increased its position in shares of TD SYNNEX by 121.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of TD SYNNEX in the 1st quarter valued at about $32,000. Pineridge Advisors LLC acquired a new position in shares of TD SYNNEX in the 4th quarter valued at about $33,000. Blue Trust Inc. boosted its holdings in shares of 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 buying an additional 123 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of TD SYNNEX by 217.5% in the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock valued at $52,000 after buying an additional 311 shares during the period. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Up 1.7 %

SNX stock opened at $112.89 on Friday. TD SYNNEX Co. has a 52 week low of $89.73 and a 52 week high of $133.85. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 1.10 and a beta of 1.49. The firm’s 50-day moving average is $115.56 and its two-hundred day moving average is $117.04. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47.

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

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a dividend of $0.40 per share. The ex-dividend date was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.42%. TD SYNNEX’s dividend payout ratio (DPR) is 22.41%.

Insiders Place Their Bets

In related news, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the sale, the chief operating officer now directly owns 140,205 shares in the company, valued at approximately $15,882,422.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the sale, the chief financial officer now directly owns 45,115 shares in the company, valued at approximately $4,968,966.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $113.28, for a total transaction of $397,952.64. Following the completion of the sale, the chief operating officer now owns 140,205 shares in the company, valued at $15,882,422.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,188 shares of company stock worth $3,998,655. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on SNX. UBS Group lifted their price target on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. decreased their price target on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a report on Wednesday, June 26th. Finally, Bank of America reduced their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $127.33.

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.