TD SYNNEX Co. (NYSE:SNX) Position Trimmed by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its stake in TD SYNNEX Co. (NYSE:SNX) by 3.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,299 shares of the business services provider’s stock after selling 1,582 shares during the quarter. MetLife Investment Management LLC’s holdings in TD SYNNEX were worth $4,719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNX. V Square Quantitative Management LLC acquired a new stake in TD SYNNEX during the 3rd quarter valued at $30,000. UMB Bank n.a. raised its holdings in shares of TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of TD SYNNEX in the third quarter worth about $37,000. Blue Trust Inc. lifted its holdings in TD SYNNEX by 52.3% in the 2nd 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 last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of TD SYNNEX in the second quarter worth $52,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SNX shares. Loop Capital reissued a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a research report on Monday, October 7th. Barclays lifted 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 report on Friday, September 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.75.

Insider Transactions at TD SYNNEX

In other 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 completion of the sale, the director now directly owns 5,695 shares in the company, valued at $689,721.45. This represents a 25.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dennis Polk sold 15,689 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total value of $1,834,514.77. Following the transaction, the insider now owns 134,706 shares in the company, valued at $15,751,172.58. The trade was a 10.43 % 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. Corporate insiders own 1.90% of the company’s stock.

TD SYNNEX Trading Down 0.7 %

SNX stock opened at $118.99 on Monday. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. TD SYNNEX Co. has a one year low of $96.93 and a one year high of $133.85. The company has a fifty day moving average price of $119.24 and a two-hundred day moving average price of $119.60.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06. The company had revenue of $14.68 billion during the quarter, compared to the consensus estimate 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 previous year, the business earned $2.71 earnings per share. Equities analysts anticipate that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio is 20.70%.

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.