Ceredex Value Advisors LLC Decreases Stake in TD SYNNEX Co. (NYSE:SNX)

Ceredex Value Advisors LLC trimmed its position in shares of TD SYNNEX Co. (NYSE:SNX) by 0.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 128,950 shares of the business services provider’s stock after selling 650 shares during the period. Ceredex Value Advisors LLC owned about 0.15% of TD SYNNEX worth $15,484,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SNX. ProShare Advisors LLC increased its holdings in TD SYNNEX by 3.2% in the first quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock valued at $315,000 after buying an additional 86 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in TD SYNNEX by 3.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock worth $315,000 after purchasing an additional 90 shares in the last quarter. AlphaMark Advisors LLC lifted its position in shares of TD SYNNEX by 1.3% during the 3rd quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock worth $929,000 after buying an additional 100 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of TD SYNNEX by 11.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock valued at $123,000 after buying an additional 106 shares in the last quarter. Finally, SummerHaven Investment Management LLC grew its position in shares of TD SYNNEX by 1.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,704 shares of the business services provider’s stock valued at $889,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Trading Up 0.1 %

Shares of TD SYNNEX stock opened at $115.50 on Friday. The company’s 50-day simple moving average is $118.07 and its 200-day simple moving average is $119.41. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. TD SYNNEX Co. has a 52-week low of $92.66 and a 52-week high of $133.85. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $14.11 billion. During the same period in the prior year, the company posted $2.71 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts anticipate that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s payout ratio is currently 20.70%.

Insider Buying and Selling

In other TD SYNNEX news, Director Ann F. Vezina sold 1,937 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total transaction of $234,590.07. Following the completion of the transaction, the director now directly owns 5,695 shares of the company’s stock, valued at $689,721.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ann F. Vezina sold 1,937 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total transaction of $234,590.07. Following the sale, the director now directly owns 5,695 shares of the company’s stock, valued at approximately $689,721.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the completion of the transaction, the director now directly owns 171,080 shares of the company’s stock, valued at approximately $20,652,777.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,837 shares of company stock worth $8,904,751. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. Loop Capital reissued a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Barrington Research reiterated an “outperform” rating and issued a $138.00 price objective 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 report on Friday, September 27th. Finally, StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $134.75.

TD SYNNEX Company 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.