TD SYNNEX Co. (NYSE:SNX) Shares Sold by Barclays PLC

Barclays PLC lowered its position in TD SYNNEX Co. (NYSE:SNX) by 18.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,307 shares of the business services provider’s stock after selling 17,796 shares during the quarter. Barclays PLC owned 0.10% of TD SYNNEX worth $9,763,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after purchasing an additional 1,154,651 shares in the last quarter. Pacer Advisors Inc. raised its holdings in TD SYNNEX by 58.9% in the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock valued at $313,469,000 after buying an additional 1,006,569 shares during the period. Thrivent Financial for Lutherans lifted its position in TD SYNNEX by 560.0% during the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock valued at $44,639,000 after buying an additional 315,424 shares in the last quarter. AQR Capital Management LLC grew its stake in TD SYNNEX by 21.1% during the second quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock worth $178,421,000 after buying an additional 269,759 shares during the period. Finally, Hsbc Holdings PLC grew its stake in TD SYNNEX by 339.8% during the second quarter. Hsbc Holdings PLC now owns 267,229 shares of the business services provider’s stock worth $30,780,000 after buying an additional 206,473 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

Shares of SNX opened at $124.73 on Tuesday. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.14 and a beta of 1.47. 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 business’s 50 day moving average is $120.37 and its two-hundred day moving average is $119.15. TD SYNNEX Co. has a 52-week low of $98.70 and a 52-week high of $133.85.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.06. The firm had revenue of $14.68 billion for 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 quarterly 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. Analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared 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 yield of 1.28%. TD SYNNEX’s dividend payout ratio (DPR) is 20.70%.

Wall Street Analysts Forecast Growth

SNX has been the topic of a number of research reports. Barclays raised their target price on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. Barrington Research reiterated an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a report on Monday, December 9th. Finally, Loop Capital restated a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.75.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, Director Ann F. Vezina sold 1,937 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total transaction of $234,590.07. Following the sale, the director now directly owns 5,695 shares of the company’s stock, valued at approximately $689,721.45. This represents a 25.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marshall Witt sold 5,653 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.15, for a total transaction of $684,860.95. Following the completion of the transaction, the chief financial officer now owns 38,279 shares in the company, valued at approximately $4,637,500.85. The trade was a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,645 shares of company stock valued at $8,415,189 over the last three months. 1.90% of the stock is owned by 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.