TD SYNNEX Co. (NYSE:SNX) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its holdings in TD SYNNEX Co. (NYSE:SNX) by 1.1% during the third quarter, HoldingsChannel.com reports. The firm owned 68,289 shares of the business services provider’s stock after buying an additional 746 shares during the period. The Manufacturers Life Insurance Company’s holdings in TD SYNNEX were worth $8,200,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. increased its stake in shares of TD SYNNEX by 58.9% in the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock worth $313,469,000 after buying an additional 1,006,569 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in TD SYNNEX by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock worth $258,482,000 after acquiring an additional 177,460 shares in the last quarter. AQR Capital Management LLC increased its position in shares of TD SYNNEX by 21.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock worth $178,421,000 after purchasing an additional 269,759 shares during the last quarter. Ninety One UK Ltd raised its stake in shares of TD SYNNEX by 131.0% in the 2nd quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock valued at $158,298,000 after purchasing an additional 777,924 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of TD SYNNEX by 20.1% during the second quarter. LSV Asset Management now owns 1,055,045 shares of the business services provider’s stock worth $121,752,000 after purchasing an additional 176,571 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the transaction, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This trade represents a 21.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dennis Polk sold 15,689 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the sale, the insider now owns 134,706 shares in the company, valued at $15,751,172.58. This represents a 10.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,528 shares of company stock valued at $8,400,855. Company insiders own 1.90% of the company’s stock.

TD SYNNEX Stock Up 0.2 %

SNX stock opened at $122.36 on Wednesday. The stock has a market cap of $10.41 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 1.13 and a beta of 1.47. The firm’s 50-day simple moving average is $119.31 and its 200 day simple moving average is $119.55. TD SYNNEX Co. has a fifty-two week low of $96.93 and a fifty-two week high of $133.85. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.80 by $0.06. The company had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. TD SYNNEX’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.71 earnings per share. As a group, sell-side analysts predict that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.31%. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.70%.

Analysts Set New Price Targets

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

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.