Entropy Technologies LP Sells 8,896 Shares of TD SYNNEX Co. (NYSE:SNX)

Entropy Technologies LP lessened its position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 68.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,095 shares of the business services provider's stock after selling 8,896 shares during the period. Entropy Technologies LP's holdings in TD SYNNEX were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNX. Vanguard Group Inc. increased its holdings in TD SYNNEX by 23.4% during the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider's stock worth $751,143,000 after acquiring an additional 1,261,474 shares during the period. Pacer Advisors Inc. grew its stake in TD SYNNEX by 58.9% in the 2nd quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider's stock worth $313,469,000 after buying an additional 1,006,569 shares in the last quarter. Ninety One UK Ltd grew its stake in TD SYNNEX by 131.0% in the 2nd 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 in the last quarter. Lind Value II ApS purchased a new position in TD SYNNEX in the 1st quarter worth approximately $77,858,000. Finally, AQR Capital Management LLC grew its stake in TD SYNNEX by 21.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider's stock worth $178,421,000 after buying an additional 269,759 shares in the last quarter. Institutional investors own 84.00% of the company's stock.

TD SYNNEX Trading Down 0.3 %

SNX traded down $0.40 during trading on Friday, hitting $115.30. 425,099 shares of the stock traded hands, compared to its average volume of 785,736. The firm has a market capitalization of $9.81 billion, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 1.19 and a beta of 1.48. 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 firm has a 50-day moving average of $118.35 and a 200 day moving average of $119.70. TD SYNNEX Co. has a 12-month low of $96.93 and a 12-month high of $133.85.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.06. The business had revenue of $14.68 billion during the quarter, compared to analysts' expectations of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.71 EPS. Equities research analysts anticipate that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Dividend Announcement

The company 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. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.39%. TD SYNNEX's payout ratio is currently 20.70%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 5,653 shares of the company's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.15, for a total value of $684,860.95. Following the completion of the transaction, the chief financial officer now directly owns 38,279 shares in the company, valued at approximately $4,637,500.85. This represents a 12.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann F. Vezina sold 1,937 shares of the company's stock in a transaction 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 completion of the transaction, the director now owns 5,695 shares of the company's stock, valued at $689,721.45. This trade represents a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,645 shares of company stock valued at $8,414,329 in the last quarter. Company insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

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