Wellington Management Group LLP Has $3.70 Million Stake in TD SYNNEX Co. (NYSE:SNX)

Wellington Management Group LLP lowered its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 19.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,844 shares of the business services provider’s stock after selling 7,590 shares during the quarter. Wellington Management Group LLP’s holdings in TD SYNNEX were worth $3,704,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Two Sigma Advisers LP grew its position in TD SYNNEX by 131.9% during the third quarter. Two Sigma Advisers LP now owns 127,736 shares of the business services provider’s stock worth $15,339,000 after buying an additional 72,650 shares in the last quarter. State Street Corp grew its position in TD SYNNEX by 0.7% during the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock worth $262,943,000 after buying an additional 15,995 shares in the last quarter. Quantinno Capital Management LP grew its position in TD SYNNEX by 5.6% during the third quarter. Quantinno Capital Management LP now owns 15,770 shares of the business services provider’s stock worth $1,894,000 after buying an additional 831 shares in the last quarter. Redwood Investment Management LLC grew its position in TD SYNNEX by 4.0% during the third quarter. Redwood Investment Management LLC now owns 12,504 shares of the business services provider’s stock worth $1,496,000 after buying an additional 486 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in TD SYNNEX during the third quarter worth approximately $55,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

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

TD SYNNEX Stock Down 3.7 %

Shares of SNX opened at $120.08 on Wednesday. TD SYNNEX Co. has a 52 week low of $98.70 and a 52 week high of $133.85. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.14 and a beta of 1.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The stock has a fifty day moving average of $120.36 and a 200-day moving average of $119.07.

TD SYNNEX (NYSE:SNX) last announced 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 company had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. During the same period in the prior year, the company earned $2.71 EPS. TD SYNNEX’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

Insider Activity

In related news, insider Dennis Polk sold 15,689 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $15,751,172.58. This trade represents a 10.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Simon Leung sold 6,249 shares of the firm’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 transaction, the insider now directly owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,645 shares of company stock worth $8,415,189. 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.