The Manufacturers Life Insurance Company raised its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 20.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,543 shares of the business services provider's stock after acquiring an additional 11,589 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of TD SYNNEX worth $7,794,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of TD SYNNEX by 23.4% in the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider's stock valued at $751,143,000 after purchasing an additional 1,261,474 shares during the last quarter. Pacer Advisors Inc. raised its holdings in TD SYNNEX by 58.9% during the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider's stock valued at $313,469,000 after buying an additional 1,006,569 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of TD SYNNEX by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider's stock worth $258,482,000 after buying an additional 177,460 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of TD SYNNEX by 21.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider's stock worth $178,421,000 after acquiring an additional 269,759 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of TD SYNNEX by 38.5% during the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider's stock valued at $172,081,000 after acquiring an additional 421,908 shares during the last quarter. 84.00% of the stock is owned by institutional investors.
Shares of SNX opened at $117.31 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.78 and a current ratio of 1.25. The company has a 50-day simple moving average of $116.24 and a 200-day simple moving average of $118.24. TD SYNNEX Co. has a 52 week low of $89.73 and a 52 week high of $133.85. The firm has a market capitalization of $10.03 billion, a P/E ratio of 16.43, a P/E/G ratio of 1.19 and a beta of 1.48.
TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, topping 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 return on equity of 12.15% and a net margin of 1.20%. TD SYNNEX's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.71 EPS. On average, equities research analysts expect that TD SYNNEX Co. will post 11.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be 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 of this dividend is Friday, October 11th. TD SYNNEX's payout ratio is 22.41%.
Several research firms recently weighed in on SNX. StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a report on Friday, August 16th. Barclays upped their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an "equal weight" rating in a report on Friday, September 27th. Royal Bank of Canada reiterated an "outperform" rating and issued a $140.00 target price on shares of TD SYNNEX in a report on Friday, September 27th. Barrington Research reissued an "outperform" rating and set a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lowered their price target on TD SYNNEX from $126.00 to $123.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $132.57.
Get Our Latest Analysis on SNX
In related news, insider Dennis Polk sold 15,689 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total value of $1,834,514.77. Following the completion of the transaction, the insider now owns 134,706 shares of the company's stock, valued at $15,751,172.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other TD SYNNEX 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 value 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Marshall Witt sold 11,441 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total value of $1,260,111.74. Following the transaction, the chief financial officer now owns 45,115 shares of the company's stock, valued at $4,968,966.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,877 shares of company stock valued at $3,519,970. Company insiders own 1.90% of the company's stock.
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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