TD SYNNEX Co. (NYSE:SNX) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board trimmed its holdings in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 77.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,771 shares of the business services provider's stock after selling 16,536 shares during the period. Ontario Teachers Pension Plan Board's holdings in TD SYNNEX were worth $573,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SNX. ProShare Advisors LLC increased its holdings in shares of TD SYNNEX by 3.2% in the 1st quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider's stock valued at $315,000 after purchasing an additional 86 shares during the period. CIBC Asset Management Inc lifted its position in TD SYNNEX by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider's stock worth $313,000 after buying an additional 86 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of TD SYNNEX by 3.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider's stock valued at $315,000 after buying an additional 90 shares during the period. AlphaMark Advisors LLC grew its holdings in shares of TD SYNNEX by 1.3% during the 3rd quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider's stock valued at $929,000 after acquiring an additional 100 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of TD SYNNEX by 11.1% in the second quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider's stock worth $123,000 after acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Insider Activity at TD SYNNEX

In related news, insider Dennis Polk sold 15,689 shares of TD SYNNEX 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 completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at approximately $15,751,172.58. This trade represents a 10.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 5,653 shares of the company's stock in a transaction dated Wednesday, October 9th. The stock was 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 of the company's stock, valued at $4,637,500.85. The trade was a 12.87 % 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 worth $8,414,329 over the last quarter. Company insiders own 1.90% of the company's stock.

TD SYNNEX Stock Up 1.9 %

SNX stock traded up $2.20 during trading on Friday, reaching $118.77. The stock had a trading volume of 680,179 shares, compared to its average volume of 778,247. The company's 50 day moving average is $118.78 and its two-hundred day moving average is $119.68. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a one year low of $96.93 and a one year high of $133.85. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 1.15 and a beta of 1.48.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings results 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 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 analyst estimates of $14.11 billion. During the same period last year, the company earned $2.71 earnings per share. The business's revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts forecast that TD SYNNEX Co. will post 11.03 EPS 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 of this dividend 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%.

Analyst Upgrades and Downgrades

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