TD SYNNEX Corporation $SNX Stock Position Raised by Truist Financial Corp

Truist Financial Corp lifted its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 15.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,114 shares of the business services provider's stock after acquiring an additional 3,418 shares during the quarter. Truist Financial Corp's holdings in TD SYNNEX were worth $3,408,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SNX. Crossmark Global Holdings Inc. increased its stake in TD SYNNEX by 1.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 6,063 shares of the business services provider's stock valued at $630,000 after buying an additional 94 shares during the period. State of Michigan Retirement System increased its stake in TD SYNNEX by 0.6% in the 1st quarter. State of Michigan Retirement System now owns 18,021 shares of the business services provider's stock valued at $1,873,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System increased its stake in TD SYNNEX by 0.5% in the 1st quarter. Louisiana State Employees Retirement System now owns 21,100 shares of the business services provider's stock valued at $2,194,000 after buying an additional 100 shares during the period. GAMMA Investing LLC increased its stake in TD SYNNEX by 16.8% in the 1st quarter. GAMMA Investing LLC now owns 750 shares of the business services provider's stock valued at $78,000 after buying an additional 108 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in TD SYNNEX by 19.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 724 shares of the business services provider's stock valued at $76,000 after buying an additional 116 shares during the period. Hedge funds and other institutional investors own 84.00% of the company's stock.

TD SYNNEX Price Performance

NYSE SNX opened at $160.90 on Thursday. The company has a current ratio of 1.20, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $150.90 and a 200 day simple moving average of $132.57. The company has a market cap of $13.10 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.24 and a beta of 1.43. TD SYNNEX Corporation has a 1 year low of $92.23 and a 1 year high of $167.76.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. TD SYNNEX's dividend payout ratio is 19.09%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 861 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $149.84, for a total value of $129,012.24. Following the completion of the sale, the chief financial officer directly owned 49,777 shares of the company's stock, valued at $7,458,585.68. This represents a 1.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann F. Vezina sold 812 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $150.42, for a total transaction of $122,141.04. Following the completion of the sale, the director directly owned 6,079 shares of the company's stock, valued at approximately $914,403.18. This trade represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,930 shares of company stock valued at $430,163 in the last ninety days. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on SNX shares. JPMorgan Chase & Co. upped their price objective on shares of TD SYNNEX from $143.00 to $160.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Loop Capital increased their price target on shares of TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Royal Bank Of Canada increased their price target on shares of TD SYNNEX from $165.00 to $180.00 and gave the stock an "outperform" rating in a research note on Friday, September 26th. Raymond James Financial set a $175.00 price target on shares of TD SYNNEX in a research note on Thursday, September 25th. Finally, Zacks Research upgraded shares of TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $169.55.

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.

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