Amalgamated Bank Cuts Stock Position in TD SYNNEX Co. (NYSE:SNX)

Amalgamated Bank trimmed its position in shares of TD SYNNEX Co. (NYSE:SNX) by 25.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 36,203 shares of the business services provider’s stock after selling 12,073 shares during the quarter. Amalgamated Bank’s holdings in TD SYNNEX were worth $4,347,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in shares of TD SYNNEX by 70.4% during the first quarter. BNP Paribas Financial Markets now owns 29,735 shares of the business services provider’s stock worth $3,363,000 after acquiring an additional 12,289 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in TD SYNNEX in the first quarter worth $1,008,000. Daiwa Securities Group Inc. purchased a new stake in TD SYNNEX during the first quarter valued at about $68,000. Texas Permanent School Fund Corp grew its stake in shares of TD SYNNEX by 12.7% during the first quarter. Texas Permanent School Fund Corp now owns 49,923 shares of the business services provider’s stock valued at $5,646,000 after buying an additional 5,614 shares during the last quarter. Finally, AIA Group Ltd bought a new stake in shares of TD SYNNEX in the 1st quarter valued at about $669,000. Institutional investors own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

SNX has been the topic of several recent research reports. Barclays raised their price target on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research note on Friday, September 27th. Barrington Research reissued an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, Loop Capital reissued a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $134.75.

TD SYNNEX Price Performance

SNX stock opened at $125.78 on Friday. The firm has a 50-day moving average of $118.08 and a 200 day moving average of $119.68. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The company has a market cap of $10.70 billion, a P/E ratio of 16.27, a PEG ratio of 1.25 and a beta of 1.48. TD SYNNEX Co. has a 1 year low of $92.66 and a 1 year high of $133.85.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06. The company had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.71 EPS. On average, sell-side analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a $0.40 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.27%. TD SYNNEX’s payout ratio is 20.70%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 15,689 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total value of $1,834,514.77. Following the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,751,172.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Simon Leung sold 6,249 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dennis Polk sold 15,689 shares of TD SYNNEX stock in a transaction dated 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 of the company’s stock, valued at $15,751,172.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,645 shares of company stock valued at $8,414,329 in the last three months. Company insiders own 1.90% of the company’s stock.

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.