Citigroup Inc. Has $3.64 Million Stock Position in TD SYNNEX Co. (NYSE:SNX)

Citigroup Inc. reduced its stake in TD SYNNEX Co. (NYSE:SNX) by 23.7% during the third quarter, Holdings Channel.com reports. The fund owned 30,288 shares of the business services provider’s stock after selling 9,382 shares during the period. Citigroup Inc.’s holdings in TD SYNNEX were worth $3,637,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in TD SYNNEX in the third quarter valued at approximately $30,000. UMB Bank n.a. increased its holdings in shares of TD SYNNEX by 99.3% during the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in shares of TD SYNNEX during the third quarter valued at approximately $37,000. Blue Trust Inc. increased its holdings in shares of TD SYNNEX by 52.3% during the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 123 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of TD SYNNEX during the second quarter valued at approximately $52,000. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other TD SYNNEX news, Director Ann F. Vezina sold 1,937 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total value of $234,590.07. Following the sale, the director now owns 5,695 shares of the company’s stock, valued at $689,721.45. This trade represents a 25.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 23,339 shares in the company, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,528 shares of company stock valued at $8,400,855. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SNX. Loop Capital restated a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Barrington Research restated an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Barclays upped their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, TD SYNNEX presently has an average rating of “Moderate Buy” and a consensus target price of $134.75.

TD SYNNEX Stock Up 1.1 %

Shares of NYSE SNX opened at $123.73 on Thursday. TD SYNNEX Co. has a one year low of $96.93 and a one year high of $133.85. 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 business’s fifty day moving average price is $119.38 and its 200-day moving average price is $119.52. The stock has a market capitalization of $10.53 billion, a PE ratio of 15.83, a P/E/G ratio of 1.13 and a beta of 1.47.

TD SYNNEX (NYSE:SNX) last issued its quarterly 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. 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 for the quarter, compared to analysts’ expectations of $14.11 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a dividend of $0.40 per share. 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 1.29%. TD SYNNEX’s dividend payout ratio (DPR) is 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.