River Road Asset Management LLC Reduces Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

River Road Asset Management LLC cut its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 865,147 shares of the business services provider's stock after selling 66,093 shares during the period. TD SYNNEX accounts for approximately 1.4% of River Road Asset Management LLC's portfolio, making the stock its 20th largest holding. River Road Asset Management LLC owned approximately 1.02% of TD SYNNEX worth $103,887,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNX. Vanguard Group Inc. increased its position in shares of TD SYNNEX by 23.4% in the first quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider's stock worth $751,143,000 after purchasing an additional 1,261,474 shares during the last quarter. Pacer Advisors Inc. increased its position 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 worth $313,469,000 after purchasing an additional 1,006,569 shares during the last quarter. Ninety One UK Ltd increased its position in shares of TD SYNNEX by 131.0% in 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 purchasing an additional 777,924 shares during the last quarter. Lind Value II ApS bought a new position in shares of TD SYNNEX in the first quarter worth approximately $77,858,000. Finally, Lord Abbett & CO. LLC bought a new position in shares of TD SYNNEX in the first quarter worth approximately $57,981,000. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Stock Up 2.2 %

Shares of NYSE:SNX traded up $2.50 on Tuesday, hitting $118.44. 395,577 shares of the company traded hands, compared to its average volume of 793,433. 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. The stock has a 50 day simple moving average of $117.95 and a 200-day simple moving average of $119.50. The company has a market cap of $10.08 billion, a PE ratio of 15.13, a PEG ratio of 1.17 and a beta of 1.48.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued 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. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The firm had revenue of $14.68 billion during the quarter, compared to the consensus estimate of $14.11 billion. During the same period last year, the company earned $2.71 earnings per share. The company's revenue was up 5.2% on a year-over-year basis. As a group, research analysts expect that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors 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 dividend yield of 1.35%. TD SYNNEX's dividend payout ratio (DPR) is presently 20.70%.

Insider Activity at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX 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 transaction, the director now directly owns 171,080 shares of the company's stock, valued at $20,652,777.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Marshall Witt sold 11,441 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the sale, the chief financial officer now owns 45,115 shares of the company's stock, valued at approximately $4,968,966.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $120.72, for a total value of $2,414,400.00. Following the sale, the director now directly owns 171,080 shares in the company, valued at $20,652,777.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,837 shares of company stock valued at $8,904,751 over the last ninety days. Insiders own 1.90% of the company's stock.

Analyst Ratings Changes

SNX has been the topic of several research analyst reports. Barrington Research restated an "outperform" rating and issued a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. Loop Capital reaffirmed a "buy" rating and issued a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $140.00 target price on shares of TD SYNNEX in a research note on Friday, September 27th. StockNews.com raised TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Friday, August 16th. Finally, Barclays upped their target price 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. 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, the company currently has an average rating of "Moderate Buy" and an average target price of $134.75.

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.