BNP Paribas Financial Markets Reduces Holdings in TD SYNNEX Co. (NYSE:SNX)

BNP Paribas Financial Markets cut its stake in TD SYNNEX Co. (NYSE:SNX) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,329 shares of the business services provider’s stock after selling 2,223 shares during the period. BNP Paribas Financial Markets owned 0.06% of TD SYNNEX worth $5,803,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of TD SYNNEX by 9.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,760 shares of the business services provider’s stock worth $3,706,000 after buying an additional 2,858 shares during the period. Cetera Advisors LLC acquired a new stake in TD SYNNEX during the 1st quarter worth about $406,000. DekaBank Deutsche Girozentrale increased its holdings in shares of TD SYNNEX by 550.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 26,000 shares of the business services provider’s stock valued at $2,893,000 after purchasing an additional 22,000 shares during the period. GAMMA Investing LLC raised its stake in shares of TD SYNNEX by 217.5% in the second quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock worth $52,000 after purchasing an additional 311 shares during the last quarter. Finally, CWM LLC boosted its position in TD SYNNEX by 106.2% in the second quarter. CWM LLC now owns 7,517 shares of the business services provider’s stock valued at $868,000 after buying an additional 3,872 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Activity

In related news, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the sale, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the transaction, the director now directly owns 171,080 shares in the company, valued at $20,652,777.60. This trade represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,528 shares of company stock worth $8,400,855 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

TD SYNNEX Trading Up 0.2 %

SNX stock opened at $122.36 on Wednesday. The business’s 50-day moving average is $119.31 and its 200 day moving average is $119.55. TD SYNNEX Co. has a 12-month low of $96.93 and a 12-month high of $133.85. The stock has a market cap of $10.41 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.13 and a beta of 1.47. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

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

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio is currently 20.70%.

Wall Street Analyst Weigh In

Several brokerages have commented on SNX. Barrington Research restated an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Loop Capital reiterated a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research report on Friday, September 27th. Finally, Barclays raised their target price 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.75.

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.