Point72 Asset Management L.P. Sells 183,205 Shares of TD SYNNEX Co. (NYSE:SNX)

Point72 Asset Management L.P. cut its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 58.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,800 shares of the business services provider's stock after selling 183,205 shares during the period. Point72 Asset Management L.P. owned approximately 0.15% of TD SYNNEX worth $15,586,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC raised its holdings in TD SYNNEX by 18.4% in the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider's stock worth $891,665,000 after purchasing an additional 1,154,651 shares during the period. Pacer Advisors Inc. raised its stake in TD SYNNEX by 58.9% during 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 during the period. Ninety One UK Ltd lifted 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 acquiring an additional 777,924 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in TD SYNNEX by 560.0% in the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider's stock valued at $44,639,000 after acquiring an additional 315,424 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of TD SYNNEX by 21.1% in the second quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider's stock worth $178,421,000 after acquiring an additional 269,759 shares in the last quarter. Institutional investors own 84.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SNX. StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Friday, August 16th. 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. 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. Barclays lifted their price target on TD SYNNEX from $131.00 to $132.00 and gave the company an "equal weight" rating in a research note on Friday, September 27th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $134.75.

Insider Activity

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 23,339 shares in the company, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total value of $2,414,400.00. Following the sale, the director now owns 171,080 shares of the company's stock, valued at approximately $20,652,777.60. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,645 shares of company stock valued at $8,415,189 over the last three months. Insiders own 1.90% of the company's stock.

TD SYNNEX Stock Up 1.0 %

Shares of NYSE:SNX traded up $1.19 during trading on Friday, hitting $123.23. 449,630 shares of the company were exchanged, compared to its average volume of 487,695. TD SYNNEX Co. has a fifty-two week low of $97.50 and a fifty-two week high of $133.85. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.15 and a beta of 1.47. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $119.65 and a two-hundred day moving average price of $119.54.

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

TD SYNNEX Dividend Announcement

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

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.