Neo Ivy Capital Management Decreases Holdings in TD SYNNEX Co. (NYSE:SNX)

Neo Ivy Capital Management cut its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 56.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,958 shares of the business services provider's stock after selling 17,970 shares during the period. Neo Ivy Capital Management's holdings in TD SYNNEX were worth $1,676,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc increased its position in shares of TD SYNNEX by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider's stock worth $313,000 after purchasing an additional 86 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of 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 increased its position in shares of TD SYNNEX by 1.3% during the third quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider's stock worth $929,000 after purchasing an additional 100 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of TD SYNNEX by 11.1% during the second quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider's stock worth $123,000 after buying an additional 106 shares during the last quarter. Finally, Atria Investments Inc grew its holdings in shares of TD SYNNEX by 4.1% during the third quarter. Atria Investments Inc now owns 2,862 shares of the business services provider's stock worth $344,000 after buying an additional 112 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNX has been the topic of a number of analyst reports. Barrington Research reaffirmed an "outperform" rating and issued a $138.00 price objective on shares of TD SYNNEX in a report on Monday, September 23rd. Loop Capital reissued a "buy" rating and set a $150.00 price target on shares of TD SYNNEX in a research note on Monday, October 7th. Barclays increased their price target on TD SYNNEX from $131.00 to $132.00 and gave the stock an "equal weight" rating in a research note on Friday, September 27th. StockNews.com lowered TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Monday. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $134.75.

TD SYNNEX Trading Up 0.3 %

NYSE:SNX traded up $0.34 during trading hours on Wednesday, hitting $122.68. The stock had a trading volume of 165,376 shares, compared to its average volume of 764,899. TD SYNNEX Co. has a one year low of $98.70 and a one year high of $133.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The company has a market cap of $10.44 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 1.14 and a beta of 1.47. The business's 50 day moving average is $119.82 and its 200-day moving average is $119.31.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its earnings results 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. The business had revenue of $14.68 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $2.71 earnings per share. Sell-side analysts anticipate that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.30%. The ex-dividend date was Friday, October 11th. TD SYNNEX's dividend payout ratio is currently 20.70%.

Insider Buying and Selling at TD SYNNEX

In other news, insider Dennis Polk sold 15,689 shares of the business's stock in a transaction that occurred 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 approximately $15,751,172.58. The trade was a 10.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Simon Leung sold 6,249 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now owns 23,339 shares in the company, valued at $2,874,664.63. The trade was a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,645 shares of company stock valued at $8,415,189 in the last ninety days. 1.90% of the stock is currently owned by company insiders.

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.