Natixis Advisors LLC Purchases 18,551 Shares of TD SYNNEX Corporation (NYSE:SNX)

Key Points

• Natixis Advisors LLC increased its stake in TD SYNNEX by 28.9%, owning 82,713 shares worth approximately $8.6 million after acquiring an additional 18,551 shares.
• Insider transactions revealed that both the CFO and a director sold a combined total of 64,819 shares worth nearly $9 million, indicating potential shifts in insider confidence.
• TD SYNNEX recently reported earnings per share of $2.99, surpassing estimates, with a year-over-year revenue increase of 7.2% to $14.95 billion.

Natixis Advisors LLC grew its stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 28.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,713 shares of the business services provider's stock after acquiring an additional 18,551 shares during the quarter. Natixis Advisors LLC owned 0.10% of TD SYNNEX worth $8,599,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SNX. Bessemer Group Inc. increased its stake in TD SYNNEX by 174.7% during the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after purchasing an additional 152 shares in the last quarter. Versant Capital Management Inc increased its stake in TD SYNNEX by 115.1% during the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock worth $36,000 after purchasing an additional 183 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in TD SYNNEX during the 1st quarter worth approximately $44,000. State of Wyoming increased its stake in TD SYNNEX by 51.9% during the 4th quarter. State of Wyoming now owns 594 shares of the business services provider's stock worth $70,000 after purchasing an additional 203 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in TD SYNNEX by 16.8% during the 1st quarter. GAMMA Investing LLC now owns 750 shares of the business services provider's stock worth $78,000 after purchasing an additional 108 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

Insider Buying and Selling at TD SYNNEX

In related news, CFO Marshall Witt sold 1,509 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total value of $189,153.15. Following the transaction, the chief financial officer directly owned 49,563 shares of the company's stock, valued at $6,212,722.05. The trade was a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Hume sold 63,310 shares of TD SYNNEX stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $136.23, for a total value of $8,624,721.30. Following the completion of the transaction, the director directly owned 67,515 shares in the company, valued at approximately $9,197,568.45. This represents a 48.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,076 shares of company stock worth $8,992,884 over the last 90 days. Insiders own 1.00% of the company's stock.

TD SYNNEX Stock Performance

Shares of SNX traded down $0.85 during midday trading on Tuesday, reaching $141.32. 527,716 shares of the stock were exchanged, compared to its average volume of 554,518. TD SYNNEX Corporation has a twelve month low of $92.23 and a twelve month high of $149.76. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. The company has a market cap of $11.65 billion, a P/E ratio of 16.51, a PEG ratio of 1.16 and a beta of 1.32. The stock's 50 day simple moving average is $134.94 and its 200 day simple moving average is $128.02.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.28. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The company had revenue of $14.95 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter last year, the firm earned $2.73 earnings per share. The company's revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts expect that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, July 11th. TD SYNNEX's payout ratio is currently 20.56%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SNX. Loop Capital increased their target price on TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Bank of America raised their price target on shares of TD SYNNEX from $156.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $145.00 price target on shares of TD SYNNEX in a research note on Wednesday, June 25th. Barclays set a $140.00 price target on shares of TD SYNNEX in a research note on Tuesday, June 24th. Finally, Wall Street Zen cut shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Saturday. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $149.30.

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.