Loomis Sayles & Co. L P Lowers Stake in TD SYNNEX Co. (NYSE:SNX)

Loomis Sayles & Co. L P lowered its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 8.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,799 shares of the business services provider’s stock after selling 29,614 shares during the period. Loomis Sayles & Co. L P owned approximately 0.37% of TD SYNNEX worth $37,921,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in shares of TD SYNNEX in the 3rd quarter worth approximately $30,000. UMB Bank n.a. boosted its holdings in TD SYNNEX by 99.3% in the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after acquiring an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of TD SYNNEX in the third quarter worth $37,000. Blue Trust Inc. increased its holdings in shares of TD SYNNEX by 52.3% during the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 123 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in TD SYNNEX by 217.5% in the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock worth $52,000 after purchasing an additional 311 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Analysts Set New Price Targets

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

TD SYNNEX Trading Up 1.8 %

NYSE:SNX opened at $120.97 on Tuesday. TD SYNNEX Co. has a one year low of $96.93 and a one year high of $133.85. The business has a fifty day moving average price of $119.03 and a 200-day moving average price of $119.66. The firm has a market capitalization of $10.29 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48. 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 (NYSE:SNX) last posted its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The firm had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. During the same period in the previous year, the firm earned $2.71 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is 20.70%.

Insider Buying and Selling

In related news, CFO Marshall Witt sold 5,653 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.15, for a total transaction of $684,860.95. Following the completion of the transaction, the chief financial officer now owns 38,279 shares in the company, valued at approximately $4,637,500.85. This represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dennis Polk sold 15,689 shares of TD SYNNEX stock in a transaction 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 completion of the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,751,172.58. This represents a 10.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,645 shares of company stock valued at $8,414,329. Company insiders own 1.90% of the company’s stock.

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.