SYNNEX Co. (SNX) Holdings Increased by Brookstone Capital Management

Brookstone Capital Management raised its holdings in SYNNEX Co. (NYSE:SNX) by 28.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,648 shares of the business services provider’s stock after acquiring an additional 1,265 shares during the period. Brookstone Capital Management’s holdings in SYNNEX were worth $478,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Townsend & Associates Inc purchased a new stake in shares of SYNNEX in the 2nd quarter valued at about $108,000. Meeder Asset Management Inc. raised its holdings in shares of SYNNEX by 199.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,223 shares of the business services provider’s stock valued at $104,000 after acquiring an additional 814 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of SYNNEX in the 2nd quarter valued at about $136,000. Nomura Holdings Inc. purchased a new stake in shares of SYNNEX in the 2nd quarter valued at about $210,000. Finally, US Bancorp DE raised its holdings in shares of SYNNEX by 66.6% in the 3rd quarter. US Bancorp DE now owns 2,456 shares of the business services provider’s stock valued at $208,000 after acquiring an additional 982 shares in the last quarter. 71.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE SNX opened at $78.94 on Friday. The stock has a market cap of $4.11 billion, a P/E ratio of 8.91 and a beta of 0.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.94 and a current ratio of 1.51. SYNNEX Co. has a 1-year low of $72.83 and a 1-year high of $141.94.

SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Wednesday, October 3rd. The business services provider reported $2.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.46 by $0.11. The company had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.88 billion. SYNNEX had a return on equity of 17.16% and a net margin of 1.41%. SYNNEX’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $2.16 EPS. As a group, equities analysts expect that SYNNEX Co. will post 10.12 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Friday, October 12th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 11th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.77%. SYNNEX’s dividend payout ratio is 15.80%.

In related news, Director Matthew Miau purchased 122,202 shares of SYNNEX stock in a transaction that occurred on Friday, October 19th. The shares were acquired at an average cost of $78.27 per share, for a total transaction of $9,564,750.54. Following the transaction, the director now directly owns 364,352 shares in the company, valued at $28,517,831.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dennis Polk sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $96.21, for a total value of $192,420.00. Following the transaction, the chief executive officer now owns 26,494 shares in the company, valued at $2,548,987.74. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 370,331 shares of company stock worth $29,495,099 and have sold 8,609 shares worth $735,256. Company insiders own 3.20% of the company’s stock.

SNX has been the topic of several recent analyst reports. Zacks Investment Research cut SYNNEX from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. SunTrust Banks lowered their price target on SYNNEX to $100.00 and set a “buy” rating on the stock in a report on Thursday, October 4th. Stifel Nicolaus lowered their price target on SYNNEX from $130.00 to $114.00 and set a “buy” rating on the stock in a report on Thursday, October 4th. Needham & Company LLC raised SYNNEX from a “buy” rating to a “strong-buy” rating and set a $135.00 price target on the stock in a report on Thursday, October 4th. Finally, TheStreet cut SYNNEX from a “b-” rating to a “c+” rating in a report on Friday, October 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $127.00.

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About SYNNEX

SYNNEX Corporation provides business process services in North and South America, the Asia-Pacific, Europe, and internationally. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center server and storage solutions; system components; software; networking/communications/security equipment; consumer electronics; and complementary products.

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Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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