M&T Bank Corp Buys 261 Shares of TD SYNNEX Co. (NYSE:SNX)

M&T Bank Corp increased its position in TD SYNNEX Co. (NYSE:SNX) by 13.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,188 shares of the business services provider’s stock after purchasing an additional 261 shares during the quarter. M&T Bank Corp’s holdings in TD SYNNEX were worth $263,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SNX. Envestnet Portfolio Solutions Inc. acquired a new position in shares of TD SYNNEX in the 2nd quarter worth approximately $242,000. Blue Trust Inc. increased its position in TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after purchasing an additional 123 shares during the period. Fifth Third Bancorp grew its position in shares of TD SYNNEX by 11.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock worth $123,000 after buying an additional 106 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of TD SYNNEX during the second quarter worth approximately $280,000. Finally, Louisiana State Employees Retirement System lifted its holdings in TD SYNNEX by 34.1% in the second quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the business services provider’s stock valued at $2,539,000 after buying an additional 5,600 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

TD SYNNEX Stock Up 0.9 %

SNX stock opened at $117.49 on Friday. TD SYNNEX Co. has a 1-year low of $98.70 and a 1-year high of $133.85. The business’s 50 day simple moving average is $120.23 and its 200 day simple moving average is $119.04. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $10.00 billion, a PE ratio of 15.20, a PEG ratio of 1.14 and a beta of 1.47.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.06. The company had revenue of $14.68 billion for the quarter, compared to analyst estimates 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 firm earned $2.71 earnings per share. As a group, research analysts anticipate that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio is presently 20.70%.

Insider Activity

In other news, insider Dennis Polk sold 15,689 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 134,706 shares in the company, valued at approximately $15,751,172.58. This represents a 10.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the transaction, the insider now owns 23,339 shares in the company, valued at $2,874,664.63. The trade was a 21.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,155 shares of company stock valued at $8,598,095. 1.90% of the stock is 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.