TD SYNNEX Co. (NYSE:SNX) Shares Sold by MQS Management LLC

MQS Management LLC cut its position in shares of TD SYNNEX Co. (NYSE:SNX) by 25.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,526 shares of the business services provider’s stock after selling 853 shares during the quarter. MQS Management LLC’s holdings in TD SYNNEX were worth $303,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SNX. V Square Quantitative Management LLC acquired a new position in shares of TD SYNNEX during the 3rd quarter worth $30,000. UMB Bank n.a. raised its position in TD SYNNEX by 99.3% during the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after acquiring an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in TD SYNNEX during the third quarter worth about $37,000. Blue Trust Inc. lifted its holdings in shares of TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 123 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of TD SYNNEX by 217.5% in the second quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 311 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $115.72 on Friday. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 1.19 and a beta of 1.48. TD SYNNEX Co. has a 12 month low of $96.93 and a 12 month high of $133.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The stock’s 50-day moving average is $118.27 and its 200-day moving average is $119.73.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The company had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. During the same quarter in the prior year, the business earned $2.71 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts anticipate that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.38%. TD SYNNEX’s dividend payout ratio (DPR) is currently 20.70%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 15,689 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 134,706 shares in the company, valued at $15,751,172.58. The trade was a 10.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann F. Vezina sold 1,937 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total value of $234,590.07. Following the sale, the director now owns 5,695 shares of the company’s stock, valued at $689,721.45. This represents a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,645 shares of company stock worth $8,414,329. 1.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on SNX. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Barclays increased their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research note on Friday, September 27th. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, Loop Capital reissued a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, TD SYNNEX has a consensus rating of “Moderate Buy” and a consensus price target of $134.75.

About TD SYNNEX

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.