Signaturefd LLC Cuts Stake in TD SYNNEX Co. (NYSE:SNX)

Signaturefd LLC lowered its position in shares of TD SYNNEX Co. (NYSE:SNX) by 16.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 793 shares of the business services provider’s stock after selling 161 shares during the period. Signaturefd LLC’s holdings in TD SYNNEX were worth $85,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Gladius Capital Management LP increased its stake in shares of TD SYNNEX by 50.8% during the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after buying an additional 250 shares during the period. CWM LLC increased its stake in shares of TD SYNNEX by 193.1% during the third quarter. CWM LLC now owns 1,102 shares of the business services provider’s stock valued at $110,000 after buying an additional 726 shares during the period. Fifth Third Bancorp increased its stake in shares of TD SYNNEX by 19.2% during the third quarter. Fifth Third Bancorp now owns 1,444 shares of the business services provider’s stock valued at $144,000 after buying an additional 233 shares during the period. SVB Wealth LLC purchased a new position in TD SYNNEX in the third quarter valued at about $202,000. Finally, Shelton Capital Management purchased a new position in TD SYNNEX in the third quarter valued at about $207,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Transactions at TD SYNNEX

In other news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the completion of the transaction, the chief executive officer now directly owns 229,363 shares of the company’s stock, valued at approximately $24,213,851.91. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Dennis Polk sold 20,000 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $105.57, for a total value of $1,055,700.00. Following the completion of the transaction, the chief executive officer now directly owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $117.84 on Wednesday. The business’s 50 day moving average price is $109.48 and its 200 day moving average price is $103.52. The firm has a market cap of $10.50 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.12 and a beta of 1.64. TD SYNNEX Co. has a 52 week low of $86.30 and a 52 week high of $119.87. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, topping the consensus estimate of $2.71 by $0.12. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. The business had revenue of $13.98 billion for the quarter, compared to analyst estimates of $14.37 billion. On average, sell-side analysts expect that TD SYNNEX Co. will post 11.38 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Thursday, April 11th. TD SYNNEX’s payout ratio is 23.22%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. lifted their target price on TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Bank of America lifted their target price on TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. UBS Group upgraded TD SYNNEX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $115.00 to $145.00 in a research note on Tuesday, April 16th. Cfra lifted their target price on TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $118.00 price target (up previously from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.82.

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.