Hilton Capital Management LLC Buys Shares of 1,788 TD SYNNEX Co. (NYSE:SNX)

Hilton Capital Management LLC purchased a new stake in TD SYNNEX Co. (NYSE:SNXGet Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,788 shares of the business services provider’s stock, valued at approximately $204,000.

Several other large investors have also recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC raised its position in shares of TD SYNNEX by 1.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 6,021 shares of the business services provider’s stock valued at $627,000 after acquiring an additional 89 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in TD SYNNEX by 2.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,269 shares of the business services provider’s stock worth $444,000 after buying an additional 92 shares during the period. FourThought Financial LLC raised its holdings in TD SYNNEX by 41.6% during the 3rd quarter. FourThought Financial LLC now owns 320 shares of the business services provider’s stock worth $33,000 after buying an additional 94 shares during the period. State of Michigan Retirement System raised its holdings in TD SYNNEX by 1.0% during the 4th quarter. State of Michigan Retirement System now owns 10,507 shares of the business services provider’s stock worth $1,202,000 after buying an additional 100 shares during the period. Finally, Hancock Whitney Corp raised its holdings in TD SYNNEX by 0.6% during the 4th quarter. Hancock Whitney Corp now owns 17,637 shares of the business services provider’s stock worth $2,017,000 after buying an additional 112 shares during the period. Institutional investors and hedge funds own 85.54% of the company’s stock.

In related news, CFO Marshall Witt sold 909 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $98.75, for a total value of $89,763.75. Following the completion of the transaction, the chief financial officer now owns 45,887 shares of the company’s stock, valued at $4,531,341.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $105.44, for a total value of $1,054,400.00. Following the completion of the transaction, the chief executive officer now directly owns 147,747 shares of the company’s stock, valued at approximately $15,578,443.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,011 shares of company stock valued at $1,761,136. 1.60% of the stock is owned by insiders.

SNX stock traded up $0.25 during midday trading on Wednesday, reaching $96.68. 2,953 shares of the company were exchanged, compared to its average volume of 340,969. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 0.73. The business has a 50-day moving average price of $102.31 and a two-hundred day moving average price of $105.88. TD SYNNEX Co. has a one year low of $93.49 and a one year high of $130.93. The firm has a market capitalization of $9.29 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 0.85 and a beta of 1.61.

TD SYNNEX (NYSE:SNXGet Rating) last posted its earnings results on Thursday, March 24th. The business services provider reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.32. TD SYNNEX had a return on equity of 14.87% and a net margin of 1.04%. The company had revenue of $15.47 billion during the quarter, compared to the consensus estimate of $15.31 billion. During the same quarter last year, the firm earned $1.82 earnings per share. The company’s revenue was up 213.2% on a year-over-year basis. As a group, analysts anticipate that TD SYNNEX Co. will post 11 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 22nd. Investors of record on Monday, April 18th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, April 14th. TD SYNNEX’s dividend payout ratio (DPR) is presently 19.35%.

SNX has been the subject of several research reports. Stifel Nicolaus raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research note on Thursday, April 14th. Zacks Investment Research cut shares of TD SYNNEX from a “buy” rating to a “hold” rating and set a $113.00 target price for the company. in a research note on Tuesday, March 15th. StockNews.com initiated coverage on shares of TD SYNNEX in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Raymond James raised their target price on shares of TD SYNNEX from $170.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, March 25th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $142.63.

TD SYNNEX Company Profile (Get Rating)

TD SYNNEX Corporation provides business process services in the United States and internationally. The company distributes PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, consumer electronics, information technology (IT) systems including data center server and storage solutions, system components, software, networking, communications and security equipment, consumer electronics, and complementary products.

Further Reading

Institutional Ownership by Quarter for TD SYNNEX (NYSE:SNX)

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