TD SYNNEX Co. (NYSE:SNX) Shares Sold by Lind Value II ApS

Lind Value II ApS reduced its position in shares of TD SYNNEX Co. (NYSE:SNX) by 5.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 621,239 shares of the business services provider’s stock after selling 37,591 shares during the quarter. TD SYNNEX makes up 32.0% of Lind Value II ApS’s portfolio, making the stock its biggest holding. Lind Value II ApS’s holdings in TD SYNNEX were worth $74,598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB increased its position in shares of TD SYNNEX by 69.8% during the third quarter. Handelsbanken Fonder AB now owns 22,142 shares of the business services provider’s stock valued at $2,659,000 after acquiring an additional 9,100 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of TD SYNNEX during the third quarter valued at about $605,000. Sanctuary Advisors LLC acquired a new stake in shares of TD SYNNEX during the second quarter valued at about $2,008,000. Teachers Retirement System of The State of Kentucky increased its position in shares of TD SYNNEX by 60.3% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 26,594 shares of the business services provider’s stock valued at $3,069,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of TD SYNNEX by 3.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock valued at $315,000 after purchasing an additional 90 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Stock Up 1.7 %

Shares of NYSE:SNX traded up $1.96 during trading on Friday, hitting $117.31. 432,607 shares of the company were exchanged, compared to its average volume of 670,397. The stock has a market capitalization of $10.03 billion, a P/E ratio of 16.43, a PEG ratio of 1.18 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. TD SYNNEX Co. has a 12-month low of $89.73 and a 12-month high of $133.85. The firm’s 50 day moving average price is $116.22 and its 200-day moving average price is $118.34.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share 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 business had revenue of $14.68 billion during the quarter, compared to the consensus estimate of $14.11 billion. During the same quarter in the previous year, the firm earned $2.71 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. On average, research analysts predict that TD SYNNEX Co. will post 11.06 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. TD SYNNEX’s dividend payout ratio (DPR) is 22.41%.

Insider Transactions at TD SYNNEX

In other news, COO Patrick Zammit sold 3,513 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the completion of the sale, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the transaction, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at $4,968,966.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Patrick Zammit sold 3,513 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the completion of the transaction, the chief operating officer now directly owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,877 shares of company stock worth $3,519,970. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SNX shares. UBS Group lifted their price objective on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. JPMorgan Chase & Co. dropped their price objective on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a 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 research note on Friday, September 27th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and an average price target of $132.57.

About TD SYNNEX

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.