Causeway Capital Management LLC Sells 36,695 Shares of TD SYNNEX Co. (NYSE:SNX)

Causeway Capital Management LLC reduced its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 596,782 shares of the business services provider's stock after selling 36,695 shares during the quarter. TD SYNNEX makes up 1.6% of Causeway Capital Management LLC's portfolio, making the stock its 13th biggest position. Causeway Capital Management LLC owned approximately 0.70% of TD SYNNEX worth $69,991,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Mariner LLC increased its position in TD SYNNEX by 8.5% in the fourth quarter. Mariner LLC now owns 4,348 shares of the business services provider's stock worth $510,000 after buying an additional 342 shares during the period. Barclays PLC boosted its stake in TD SYNNEX by 20.1% during the fourth quarter. Barclays PLC now owns 97,617 shares of the business services provider's stock valued at $11,448,000 after buying an additional 16,310 shares in the last quarter. Bragg Financial Advisors Inc grew its stake in shares of TD SYNNEX by 0.4% in the 4th quarter. Bragg Financial Advisors Inc now owns 306,323 shares of the business services provider's stock worth $35,926,000 after purchasing an additional 1,170 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of TD SYNNEX by 1,877.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 221,979 shares of the business services provider's stock valued at $26,034,000 after acquiring an additional 210,752 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of TD SYNNEX by 46.9% during the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock valued at $201,235,000 after purchasing an additional 547,692 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

NYSE:SNX traded up $1.47 during midday trading on Friday, reaching $105.67. The stock had a trading volume of 1,050,677 shares, compared to its average volume of 750,724. The stock has a market capitalization of $8.87 billion, a P/E ratio of 13.27, a PEG ratio of 1.06 and a beta of 1.36. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. TD SYNNEX Co. has a 1-year low of $92.23 and a 1-year high of $145.10. The firm's fifty day simple moving average is $122.38 and its 200-day simple moving average is $123.89.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). The company had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The company's revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.99 EPS. On average, equities research analysts forecast that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX's payout ratio is presently 21.97%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the completion of the transaction, the director now owns 65,480 shares in the company, valued at $8,897,422.40. This trade represents a 23.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the transaction, the chief financial officer now directly owns 49,843 shares of the company's stock, valued at approximately $6,383,891.44. The trade was a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,333 shares of company stock worth $3,886,690. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on SNX. Cfra decreased their target price on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research report on Friday, March 28th. StockNews.com downgraded shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Royal Bank of Canada lowered their price target on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. The Goldman Sachs Group reduced their price objective on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Finally, UBS Group dropped their target price on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $137.22.

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.