Thrivent Financial for Lutherans Increases Position in TD SYNNEX Co. (NYSE:SNX)

Thrivent Financial for Lutherans raised its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 560.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 371,747 shares of the business services provider’s stock after buying an additional 315,424 shares during the period. Thrivent Financial for Lutherans’ holdings in TD SYNNEX were worth $44,639,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SNX. Hancock Whitney Corp boosted its holdings in shares of TD SYNNEX by 57.9% in the second quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock valued at $1,954,000 after purchasing an additional 6,207 shares during the period. Wedge Capital Management L L P NC boosted its holdings in shares of TD SYNNEX by 20.3% in the second quarter. Wedge Capital Management L L P NC now owns 31,146 shares of the business services provider’s stock valued at $3,594,000 after purchasing an additional 5,252 shares during the period. Friedenthal Financial purchased a new stake in shares of TD SYNNEX in the second quarter valued at approximately $967,000. ClariVest Asset Management LLC boosted its holdings in shares of TD SYNNEX by 45,552.8% in the second quarter. ClariVest Asset Management LLC now owns 16,435 shares of the business services provider’s stock valued at $1,897,000 after purchasing an additional 16,399 shares during the period. Finally, Tidal Investments LLC boosted its holdings in shares of TD SYNNEX by 55.7% in the first quarter. Tidal Investments LLC now owns 17,508 shares of the business services provider’s stock valued at $1,980,000 after purchasing an additional 6,265 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling at TD SYNNEX

In other news, insider Dennis Polk sold 15,689 shares of the firm’s 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 sale, the insider now directly owns 134,706 shares in the company, valued at $15,751,172.58. This trade represents a 10.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $120.72, for a total value of $2,414,400.00. Following the sale, the director now owns 171,080 shares in the company, valued at $20,652,777.60. This trade represents a 10.47 % 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 worth $8,414,329. Insiders own 1.90% of the company’s stock.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $116.30 on Tuesday. The firm has a market capitalization of $9.90 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.17 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. The business has a fifty day moving average of $118.46 and a 200 day moving average of $119.75. TD SYNNEX Co. has a 1 year low of $96.93 and a 1 year high of $133.85.

TD SYNNEX (NYSE:SNX) last released 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. The business had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $2.71 EPS. As a group, research analysts expect that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.38%. TD SYNNEX’s payout ratio is currently 20.70%.

Wall Street Analysts Forecast Growth

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

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.