Metis Global Partners LLC Lowers Stock Position in TD SYNNEX Co. (NYSE:SNX)

Metis Global Partners LLC cut its holdings in TD SYNNEX Co. (NYSE:SNX) by 8.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,797 shares of the business services provider’s stock after selling 270 shares during the quarter. Metis Global Partners LLC’s holdings in TD SYNNEX were worth $336,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new stake in TD SYNNEX in the third quarter worth about $30,000. UMB Bank n.a. increased its position in TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after buying an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in TD SYNNEX during the third quarter valued at $37,000. Blue Trust Inc. boosted its holdings in TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after acquiring an additional 123 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of TD SYNNEX in the second quarter worth $52,000. 84.00% of the stock is currently owned by institutional investors.

Insider Activity

In other TD SYNNEX news, insider Dennis Polk sold 15,689 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the transaction, the insider now owns 134,706 shares of the company’s stock, valued at $15,751,172.58. The trade was a 10.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the sale, the director now owns 171,080 shares in the company, valued at $20,652,777.60. The trade was a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,645 shares of company stock valued at $8,414,329 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SNX shares. Barclays upped 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. Loop Capital reiterated a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a report 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $134.75.

TD SYNNEX Trading Up 0.9 %

TD SYNNEX stock opened at $116.30 on Tuesday. The business has a 50-day simple moving average of $118.46 and a two-hundred day simple moving average of $119.75. TD SYNNEX Co. has a 52-week low of $96.93 and a 52-week high of $133.85. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The company has a market cap of $9.90 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.17 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) last announced 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 business had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.71 earnings per share. Analysts predict that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s payout ratio 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.