Worldquant Millennium Advisors LLC Reduces Stake in TD SYNNEX Co. (NYSE:SNX)

Worldquant Millennium Advisors LLC trimmed its stake in TD SYNNEX Co. (NYSE:SNX) by 15.7% during the third quarter, Holdings Channel reports. The fund owned 13,045 shares of the business services provider’s stock after selling 2,428 shares during the period. Worldquant Millennium Advisors LLC’s holdings in TD SYNNEX were worth $1,566,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at TD SYNNEX

In other news, insider Simon Leung sold 6,249 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the transaction, the insider now owns 23,339 shares of the company’s stock, valued at $2,874,664.63. This represents a 21.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dennis Polk sold 15,689 shares of the 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 in the company, valued at $15,751,172.58. The trade was a 10.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,645 shares of company stock valued at $8,415,189 in the last quarter. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SNX. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. Loop Capital reissued a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Barrington Research reissued an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Finally, Barclays boosted their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and an average price target of $134.75.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $123.23 on Monday. The firm’s 50 day simple moving average is $119.65 and its 200 day simple moving average is $119.41. 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 $10.49 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 1.15 and a beta of 1.47. TD SYNNEX Co. has a 1-year low of $97.50 and a 1-year high of $133.85.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. The business had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. TD SYNNEX’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.71 EPS. As a group, analysts expect that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

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.