Los Angeles Capital Management LLC Reduces Holdings in TD SYNNEX Co. (NYSE:SNX)

Los Angeles Capital Management LLC decreased its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 91.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,798 shares of the business services provider's stock after selling 98,849 shares during the period. Los Angeles Capital Management LLC's holdings in TD SYNNEX were worth $1,177,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in TD SYNNEX in the third quarter worth approximately $30,000. UMB Bank n.a. lifted its position in shares of TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider's stock worth $35,000 after purchasing an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of TD SYNNEX during the third quarter worth $37,000. Blue Trust Inc. increased its holdings in TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider's stock valued at $40,000 after buying an additional 123 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in TD SYNNEX by 217.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider's stock worth $52,000 after buying an additional 311 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insider Activity

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 stock was sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the sale, the insider now owns 134,706 shares of the company's stock, valued at $15,751,172.58. The trade was a 10.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $769,689.33. Following the completion of the transaction, the insider now directly owns 23,339 shares of the company's stock, valued at $2,874,664.63. The trade was a 21.12 % 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 three months. 1.90% of the stock is currently owned by company insiders.

TD SYNNEX Stock Performance

SNX traded down $0.54 on Friday, hitting $115.16. 214,762 shares of the company traded hands, compared to its average volume of 784,788. TD SYNNEX Co. has a 12-month low of $96.93 and a 12-month 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 company has a 50 day moving average of $118.27 and a 200-day moving average of $119.73. The stock has a market capitalization of $9.80 billion, a PE ratio of 14.97, a PEG ratio of 1.19 and a beta of 1.48.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 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 quarter in the prior year, the firm earned $2.71 EPS. TD SYNNEX's quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Friday, October 11th. TD SYNNEX's dividend payout ratio (DPR) is 20.70%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $140.00 price objective on shares of TD SYNNEX in a report on Friday, September 27th. Loop Capital reissued a "buy" rating and set a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. Barrington Research restated an "outperform" rating and issued a $138.00 target price on shares of TD SYNNEX in a report on Monday, September 23rd. Barclays lifted 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. Finally, StockNews.com upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $134.75.

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.