Ionic Capital Management LLC Acquires 5,500 Shares of TD SYNNEX Co. (NYSE:SNX)

Ionic Capital Management LLC boosted its holdings in TD SYNNEX Co. (NYSE:SNX) by 137.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,500 shares of the business services provider’s stock after purchasing an additional 5,500 shares during the period. Ionic Capital Management LLC’s holdings in TD SYNNEX were worth $1,141,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in TD SYNNEX by 9.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,760 shares of the business services provider’s stock valued at $3,706,000 after acquiring an additional 2,858 shares in the last quarter. Cetera Advisors LLC purchased a new position in TD SYNNEX during the first quarter valued at $406,000. Teachers Retirement System of The State of Kentucky boosted its holdings in TD SYNNEX by 22.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 16,594 shares of the business services provider’s stock worth $1,877,000 after purchasing an additional 3,000 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of TD SYNNEX by 550.0% during the 1st 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. Finally, GAMMA Investing LLC grew its holdings 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 valued at $52,000 after purchasing an additional 311 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at TD SYNNEX

In related news, Director Ann F. Vezina sold 1,937 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total value of $234,590.07. Following the completion of the transaction, the director now directly owns 5,695 shares of the company’s stock, valued at approximately $689,721.45. This trade represents a 25.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dennis Polk sold 15,689 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the completion of the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,751,172.58. This trade represents a 10.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,645 shares of company stock worth $8,414,329. 1.90% of the stock is currently owned by corporate insiders.

TD SYNNEX Stock Performance

SNX stock opened at $122.11 on Tuesday. The company has a market cap of $10.39 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 1.20 and a beta of 1.47. TD SYNNEX Co. has a twelve month low of $96.93 and a twelve month high of $133.85. The business’s fifty day moving average is $119.24 and its 200-day moving average is $119.57. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.06. The firm 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 revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.71 EPS. Equities research analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

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

Wall Street Analyst Weigh In

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

TD SYNNEX Company 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.