Hilton Capital Management LLC Sells 673 Shares of TD SYNNEX Co. (NYSE:SNX)

Hilton Capital Management LLC cut its position in TD SYNNEX Co. (NYSE:SNX) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,391 shares of the business services provider’s stock after selling 673 shares during the period. Hilton Capital Management LLC’s holdings in TD SYNNEX were worth $1,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNX. Vanguard Group Inc. increased its stake in shares of TD SYNNEX by 23.4% in the first 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. 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 purchasing an additional 1,006,569 shares in the last quarter. Ninety One UK Ltd increased its stake in shares of TD SYNNEX by 131.0% in the second quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock worth $158,298,000 after purchasing an additional 777,924 shares in the last quarter. Lind Value II ApS purchased a new stake in shares of TD SYNNEX in the first quarter worth $77,858,000. Finally, Thrivent Financial for Lutherans increased its stake in shares of TD SYNNEX by 560.0% in the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock worth $44,639,000 after purchasing an additional 315,424 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SNX has been the subject of several research analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research note on Friday, September 27th. Barclays raised their target price on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Finally, Loop Capital reaffirmed a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average price target of $134.75.

TD SYNNEX Stock Performance

Shares of NYSE:SNX opened at $114.71 on Wednesday. TD SYNNEX Co. has a 52 week low of $96.93 and a 52 week high of $133.85. The stock has a market capitalization of $9.76 billion, a P/E ratio of 14.84, a PEG ratio of 1.17 and a beta of 1.48. The firm has a fifty day simple moving average of $118.55 and a two-hundred day simple moving average of $119.73. 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 issued its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The business had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. During the same period last year, the company posted $2.71 EPS. The business’s revenue was up 5.2% on a year-over-year basis. On average, analysts expect that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.39%. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.70%.

Insider Transactions at TD SYNNEX

In other news, Director Ann F. Vezina sold 1,937 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 5,695 shares in the company, valued at approximately $689,721.45. This trade represents a 25.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the sale, the insider now owns 23,339 shares of the company’s stock, valued at $2,874,664.63. This trade represents a 21.12 % 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 insiders.

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.