Wellington Management Group LLP Trims Position in TD SYNNEX Co. (NYSE:SNX)

Wellington Management Group LLP trimmed its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 19.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,844 shares of the business services provider's stock after selling 7,590 shares during the period. Wellington Management Group LLP's holdings in TD SYNNEX were worth $3,704,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC increased its position in shares of TD SYNNEX by 18.4% during the 3rd 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 last quarter. Pacer Advisors Inc. boosted its position in shares of TD SYNNEX by 58.9% during the second 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. Dimensional Fund Advisors LP grew its stake in shares of TD SYNNEX by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider's stock valued at $258,482,000 after buying an additional 177,460 shares in the last quarter. State Street Corp grew its position in TD SYNNEX by 0.7% in the 3rd quarter. State Street Corp now owns 2,189,732 shares of the business services provider's stock valued at $262,943,000 after acquiring an additional 15,995 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in TD SYNNEX by 21.1% during 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 purchasing an additional 269,759 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction on 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 sale, the director now owns 171,080 shares in the company, valued at approximately $20,652,777.60. This represents a 10.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Simon Leung sold 6,249 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was 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 approximately $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 69,645 shares of company stock worth $8,415,189. Company insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

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

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock traded down $3.59 on Wednesday, reaching $116.49. 647,536 shares of the stock were exchanged, compared to its average volume of 764,733. 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 market capitalization of $9.91 billion, a PE ratio of 15.07, a PEG ratio of 1.14 and a beta of 1.47. TD SYNNEX Co. has a 1-year low of $98.70 and a 1-year high of $133.85. The business has a fifty day moving average price of $120.27 and a two-hundred day moving average price of $119.05.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings data 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 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 analysts' expectations of $14.11 billion. During the same quarter in the prior year, the business posted $2.71 earnings per share. TD SYNNEX's 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 Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.37%. TD SYNNEX's dividend payout ratio (DPR) is presently 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.