Citigroup Inc. decreased its position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 23.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,288 shares of the business services provider's stock after selling 9,382 shares during the quarter. Citigroup Inc.'s holdings in TD SYNNEX were worth $3,637,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. grew its holdings in shares of TD SYNNEX by 58.9% in the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider's stock valued at $313,469,000 after acquiring an additional 1,006,569 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of TD SYNNEX by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider's stock worth $258,482,000 after buying an additional 177,460 shares during the last quarter. AQR Capital Management LLC grew its position in TD SYNNEX by 21.1% during the second quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider's stock valued at $178,421,000 after buying an additional 269,759 shares during the period. Ninety One UK Ltd increased its holdings in TD SYNNEX by 131.0% during the second quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider's stock worth $158,298,000 after buying an additional 777,924 shares during the last quarter. Finally, LSV Asset Management raised its position in TD SYNNEX by 20.1% in the second quarter. LSV Asset Management now owns 1,055,045 shares of the business services provider's stock worth $121,752,000 after acquiring an additional 176,571 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
SNX has been the subject of several research reports. 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. Barrington Research reissued an "outperform" rating and issued a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $140.00 price objective on shares of TD SYNNEX in a report on Friday, September 27th. Loop Capital restated a "buy" rating and set a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, StockNews.com raised TD SYNNEX from a "hold" rating to a "buy" rating in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $134.75.
Get Our Latest Research Report on SNX
Insider Transactions at TD SYNNEX
In other news, Director Ann F. Vezina sold 1,937 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total value of $234,590.07. Following the completion of the transaction, the director now owns 5,695 shares of the company's stock, valued at approximately $689,721.45. This represents a 25.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the company's stock in a transaction dated 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 sale, the director now owns 171,080 shares in the company, valued at approximately $20,652,777.60. This trade represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,645 shares of company stock worth $8,415,189. 1.90% of the stock is currently owned by insiders.
TD SYNNEX Price Performance
Shares of SNX stock traded down $1.62 during trading on Thursday, hitting $122.04. The company had a trading volume of 431,724 shares, compared to its average volume of 770,089. TD SYNNEX Co. has a 52 week low of $97.13 and a 52 week high of $133.85. The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 1.14 and a beta of 1.47. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The stock's 50-day moving average is $119.51 and its two-hundred day moving average is $119.55.
TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $14.11 billion. During the same period in the previous year, the firm posted $2.71 EPS. The firm's revenue was up 5.2% compared to the same quarter last year. As a group, analysts predict that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.
TD SYNNEX Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 yield of 1.31%. The ex-dividend date was Friday, October 11th. TD SYNNEX's payout ratio is currently 20.70%.
TD SYNNEX Profile
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Free Report)
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.
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