MQS Management LLC Has $390,000 Position in TD SYNNEX Co. (NYSE:SNX)

MQS Management LLC trimmed its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 51.2% in the second quarter, Holdings Channel.com reports. The firm owned 3,379 shares of the business services provider’s stock after selling 3,546 shares during the quarter. MQS Management LLC’s holdings in TD SYNNEX were worth $390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SNX. Benjamin F. Edwards & Company Inc. increased its holdings in shares of TD SYNNEX by 121.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after buying an additional 140 shares in the last quarter. Rise Advisors LLC bought a new stake in TD SYNNEX during the 1st quarter worth $32,000. Pineridge Advisors LLC acquired a new position in TD SYNNEX in the 4th quarter worth about $33,000. Blue Trust Inc. raised its position in TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 123 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of TD SYNNEX during the second quarter valued at about $52,000. Institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

SNX has been the subject of several recent research reports. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Wednesday, June 26th. Bank of America dropped their price target on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Royal Bank of Canada raised shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $135.00 to $140.00 in a research note on Monday, July 15th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, UBS Group lifted their target price on TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $128.25.

TD SYNNEX Price Performance

SNX stock opened at $118.86 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. The firm has a market cap of $10.16 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.13 and a beta of 1.49. The company’s fifty day simple moving average is $115.81 and its 200 day simple moving average is $117.28. TD SYNNEX Co. has a 12-month low of $89.73 and a 12-month high of $133.85.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Tuesday, June 25th. The business services provider reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The business had revenue of $13.95 billion during the quarter, compared to analyst estimates of $14.12 billion. On average, analysts expect that TD SYNNEX Co. will post 11.22 earnings per share for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, July 12th. TD SYNNEX’s dividend payout ratio (DPR) is 22.41%.

Insider Activity

In related news, insider Dennis Polk sold 20,000 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,580,095.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was 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 $15,882,422.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,580,095.96. The disclosure for this sale can be found here. Insiders sold 35,188 shares of company stock worth $3,998,655 in the last quarter. 1.90% of the stock is owned by corporate insiders.

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.