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

Ionic Capital Management LLC grew its holdings in TD SYNNEX Co. (NYSE:SNX) by 137.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,500 shares of the business services provider’s stock after purchasing an additional 5,500 shares during the quarter. 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 (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CIBC Asset Management Inc lifted its holdings in TD SYNNEX by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock worth $313,000 after buying an additional 86 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of TD SYNNEX by 3.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock worth $315,000 after purchasing an additional 90 shares during the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of TD SYNNEX by 1.3% during the third quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock worth $929,000 after purchasing an additional 100 shares during the period. Fifth Third Bancorp lifted 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 valued at $123,000 after buying an additional 106 shares in the last quarter. Finally, Atria Investments Inc increased its position in TD SYNNEX by 4.1% during the third quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock worth $344,000 after purchasing an additional 112 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Trading Up 2.6 %

Shares of NYSE SNX opened at $122.11 on Tuesday. The company has a market cap of $10.39 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 1.20 and a beta of 1.47. 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 Co. has a 12 month low of $96.93 and a 12 month high of $133.85. The business has a fifty day simple moving average of $119.24 and a 200-day simple moving average of $119.57.

TD SYNNEX (NYSE:SNX) last released 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 the consensus estimate 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 for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.71 earnings per share. Sell-side analysts predict that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently declared 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 1.31%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

Analysts Set New Price Targets

A number of research firms have commented on SNX. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Barclays upped 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. Loop Capital reiterated a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research report on Friday, September 27th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $134.75.

Insider Transactions at TD SYNNEX

In related news, Director Ann F. Vezina sold 1,937 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total transaction of $234,590.07. Following the transaction, the director now owns 5,695 shares of the company’s stock, valued at approximately $689,721.45. This represents a 25.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marshall Witt sold 5,653 shares of TD SYNNEX stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.15, for a total transaction of $684,860.95. Following the completion of the transaction, the chief financial officer now owns 38,279 shares in the company, valued at approximately $4,637,500.85. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,645 shares of company stock worth $8,414,329 in the last quarter. Company insiders own 1.90% of the company’s stock.

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.