Hennessy Advisors Inc. Takes Position in TD SYNNEX Corporation $SNX

Hennessy Advisors Inc. bought a new stake in TD SYNNEX Corporation (NYSE:SNX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 948 shares of the business services provider’s stock, valued at approximately $129,000.

Several other hedge funds also recently added to or reduced their stakes in SNX. Crossmark Global Holdings Inc. increased its position in shares of 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 worth $630,000 after purchasing an additional 94 shares during the last quarter. State of Michigan Retirement System increased its position in shares of 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 worth $1,873,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of 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 worth $2,194,000 after purchasing an additional 100 shares during the last quarter. GAMMA Investing LLC increased its position in shares of TD SYNNEX by 16.8% in 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 during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of TD SYNNEX by 19.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 724 shares of the business services provider’s stock worth $76,000 after purchasing an additional 116 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNX has been the subject of several research analyst reports. Barclays boosted their target price on shares of TD SYNNEX from $140.00 to $164.00 and gave the stock an “equal weight” rating in a research report on Friday, September 26th. Morgan Stanley increased their target price on shares of TD SYNNEX from $173.00 to $181.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Wall Street Zen cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Friday. Zacks Research raised shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Raymond James Financial set a $175.00 target price on shares of TD SYNNEX in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $169.55.

TD SYNNEX Stock Down 3.3%

SNX stock opened at $158.57 on Monday. The company has a quick ratio of 0.71, a current ratio of 1.20 and a debt-to-equity ratio of 0.36. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $167.76. The firm’s 50-day simple moving average is $150.24 and its 200 day simple moving average is $131.98. The stock has a market cap of $12.91 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43.

TD SYNNEX Announces Dividend

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

Insider Buying and Selling

In related news, CFO Marshall Witt sold 861 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $149.84, for a total value of $129,012.24. Following the sale, the chief financial officer owned 49,777 shares of the company’s stock, valued at $7,458,585.68. This trade represents a 1.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann F. Vezina sold 812 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $150.42, for a total transaction of $122,141.04. Following the transaction, the director directly owned 6,079 shares in the company, valued at approximately $914,403.18. The trade was a 11.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,930 shares of company stock valued at $430,163 in the last quarter. Company insiders own 1.00% of the company’s stock.

TD SYNNEX 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.