Metropolis Capital Ltd Takes $115.17 Million Position in TD SYNNEX Corporation $SNX

Metropolis Capital Ltd purchased a new stake in TD SYNNEX Corporation (NYSE:SNX) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 848,699 shares of the business services provider’s stock, valued at approximately $115,168,000. TD SYNNEX makes up about 3.7% of Metropolis Capital Ltd’s investment portfolio, making the stock its 13th biggest holding. Metropolis Capital Ltd owned 1.03% of TD SYNNEX at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SNX. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of TD SYNNEX by 329.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 188 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of TD SYNNEX by 115.1% in the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 183 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of TD SYNNEX in the 1st quarter valued at about $44,000. Quarry LP acquired a new stake in TD SYNNEX in the 1st quarter valued at about $51,000. Finally, SVB Wealth LLC acquired a new stake in TD SYNNEX in the 1st quarter valued at about $72,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SNX. Barclays increased their price objective on shares of TD SYNNEX from $140.00 to $164.00 and gave the company an “equal weight” rating in a research note on Friday, September 26th. Bank of America increased their price objective on shares of TD SYNNEX from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Loop Capital increased their price objective on shares of TD SYNNEX from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Royal Bank Of Canada increased their price objective on shares of TD SYNNEX from $165.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. Finally, JPMorgan Chase & Co. increased 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. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $169.55.

Insiders Place Their Bets

In other 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 transaction of $129,012.24. Following the transaction, the chief financial officer directly owned 49,777 shares in the company, valued at $7,458,585.68. This represents a 1.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alim Dhanji sold 1,257 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $142.41, for a total transaction of $179,009.37. Following the transaction, the insider owned 10,984 shares in the company, valued at approximately $1,564,231.44. The trade was a 10.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,930 shares of company stock valued at $430,163 in the last ninety days. Insiders own 1.00% of the company’s stock.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $164.40 on Thursday. TD SYNNEX Corporation has a 12-month low of $92.23 and a 12-month high of $167.76. The stock has a market capitalization of $13.56 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.33 and a beta of 1.43. The firm’s 50-day moving average is $149.64 and its two-hundred day moving average is $131.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.20 and a quick ratio of 0.71.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend 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 currently 19.09%.

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.