Oppenheimer Asset Management Inc. Sells 348 Shares of TD SYNNEX Co. (NYSE:SNX)

Oppenheimer Asset Management Inc. decreased its position in TD SYNNEX Co. (NYSE:SNX) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,680 shares of the business services provider’s stock after selling 348 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in TD SYNNEX were worth $922,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of TD SYNNEX in the 3rd quarter valued at approximately $30,000. UMB Bank n.a. boosted its position in TD SYNNEX by 99.3% during the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after purchasing an additional 144 shares during the period. Kathleen S. Wright Associates Inc. bought a new stake in TD SYNNEX during the third quarter worth approximately $37,000. Blue Trust Inc. boosted its position in TD SYNNEX by 52.3% during the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after purchasing an additional 123 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in TD SYNNEX during the second quarter worth approximately $52,000. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

Shares of NYSE SNX opened at $116.30 on Tuesday. The business has a fifty day simple moving average of $118.46 and a 200 day simple moving average of $119.75. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $9.90 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.17 and a beta of 1.48. TD SYNNEX Co. has a one year low of $96.93 and a one year high of $133.85.

TD SYNNEX (NYSE:SNX) last issued 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 analyst estimates of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. TD SYNNEX’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.71 earnings per share. Sell-side analysts expect that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.38%. 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 TD SYNNEX 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 approximately $15,751,172.58. This trade represents a 10.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Simon Leung sold 6,249 shares of TD SYNNEX 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 transaction, the insider now directly owns 23,339 shares of the company’s stock, valued at $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. Over the last ninety days, insiders sold 69,645 shares of company stock worth $8,414,329. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SNX has been the subject of a number of recent analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research report on Friday, September 27th. Barclays upped their target price 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. Finally, Loop Capital reissued a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a research report 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. According to data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.75.

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.