Ontario Teachers Pension Plan Board Sells 16,536 Shares of TD SYNNEX Co. (NYSE:SNX)

Ontario Teachers Pension Plan Board reduced its stake in TD SYNNEX Co. (NYSE:SNX) by 77.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,771 shares of the business services provider’s stock after selling 16,536 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in TD SYNNEX were worth $573,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of TD SYNNEX in the third quarter valued at about $30,000. UMB Bank n.a. raised its position in TD SYNNEX by 99.3% in 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 during the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in TD SYNNEX in the 3rd quarter valued at approximately $37,000. Blue Trust Inc. boosted its position in TD SYNNEX by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after acquiring an additional 123 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of TD SYNNEX by 217.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock worth $52,000 after acquiring an additional 311 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now owns 23,339 shares in the company, valued at $2,874,664.63. This represents a 21.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Marshall Witt sold 5,653 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.15, for a total transaction of $684,860.95. Following the completion of the sale, the chief financial officer now owns 38,279 shares of the company’s stock, 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 have sold a total of 69,645 shares of company stock valued at $8,414,329 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

TD SYNNEX Stock Up 0.5 %

SNX stock opened at $116.55 on Friday. The business’s 50 day simple moving average is $118.78 and its 200 day simple moving average is $119.68. TD SYNNEX Co. has a 1-year low of $96.93 and a 1-year high of $133.85. The firm has a market capitalization of $9.92 billion, a PE ratio of 15.08, a PEG ratio of 1.15 and a beta of 1.48. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last announced its quarterly 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 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 quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.71 EPS. As a group, research analysts anticipate that TD SYNNEX Co. will post 11.03 EPS for the current 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 annualized dividend and a yield of 1.37%. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.70%.

Analysts Set New Price Targets

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

About TD SYNNEX

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.