Anchor Capital Advisors LLC Buys 25,332 Shares of TD SYNNEX Co. (NYSE:SNX)

Anchor Capital Advisors LLC increased its stake in TD SYNNEX Co. (NYSE:SNX) by 6.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 418,936 shares of the business services provider’s stock after acquiring an additional 25,332 shares during the period. TD SYNNEX comprises approximately 1.4% of Anchor Capital Advisors LLC’s portfolio, making the stock its 21st largest position. Anchor Capital Advisors LLC owned about 0.49% of TD SYNNEX worth $48,345,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in SNX. Vanguard Group Inc. boosted its holdings in shares of TD SYNNEX by 23.4% in the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock worth $751,143,000 after purchasing an additional 1,261,474 shares in the last quarter. Nordea Investment Management AB grew its position in TD SYNNEX by 38.5% during the first quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock valued at $172,081,000 after acquiring an additional 421,908 shares during the last quarter. Ninety One UK Ltd grew its position in TD SYNNEX by 131.0% during the second quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock valued at $158,298,000 after acquiring an additional 777,924 shares during the last quarter. Lyrical Asset Management LP lifted its holdings in shares of TD SYNNEX by 0.3% in the 4th quarter. Lyrical Asset Management LP now owns 1,277,884 shares of the business services provider’s stock worth $137,513,000 after acquiring an additional 3,571 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of TD SYNNEX by 18.5% in the 1st quarter. LSV Asset Management now owns 878,474 shares of the business services provider’s stock worth $99,355,000 after acquiring an additional 136,986 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

SNX has been the topic of a number of analyst reports. Barrington Research reiterated an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research report on Wednesday, June 26th. Bank of America decreased their price objective on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Royal Bank of Canada upgraded TD SYNNEX from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $135.00 to $140.00 in a report on Monday, July 15th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, UBS Group boosted their price objective on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.33.

Insiders Place Their Bets

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the transaction, the insider now owns 134,706 shares in the company, valued at $15,580,095.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of the firm’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 transaction of $1,260,111.74. Following the completion of the transaction, the chief financial officer now owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the sale, the insider now directly owns 134,706 shares in the company, valued at $15,580,095.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,188 shares of company stock worth $3,998,655. Company insiders own 1.90% of the company’s stock.

TD SYNNEX Price Performance

Shares of SNX stock opened at $110.97 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.26. TD SYNNEX Co. has a fifty-two week low of $89.73 and a fifty-two week high of $133.85. The firm has a market cap of $9.48 billion, a P/E ratio of 15.54, a P/E/G ratio of 1.15 and a beta of 1.49. The business’s 50 day moving average price is $115.71 and its 200-day moving average price is $116.73.

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

TD SYNNEX Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.44%. TD SYNNEX’s payout ratio is 22.41%.

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.