Public Employees Retirement System of Ohio Sells 2,782 Shares of TD SYNNEX Co. (NYSE:SNX)

Public Employees Retirement System of Ohio reduced its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 8.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 29,528 shares of the business services provider’s stock after selling 2,782 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in TD SYNNEX were worth $3,546,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CIBC Asset Management Inc increased its stake in TD SYNNEX by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after purchasing an additional 86 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of TD SYNNEX by 3.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock valued at $315,000 after buying an additional 90 shares during the period. AlphaMark Advisors LLC increased its position in shares of TD SYNNEX by 1.3% in the 3rd quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock valued at $929,000 after buying an additional 100 shares in the last quarter. Fifth Third Bancorp raised its stake in TD SYNNEX by 11.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock worth $123,000 after buying an additional 106 shares during the period. Finally, Atria Investments Inc grew its stake in TD SYNNEX by 4.1% in the third quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock valued at $344,000 after acquiring an additional 112 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the sale, the insider now owns 23,339 shares in the company, valued at $2,874,664.63. This represents a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Marshall Witt sold 5,653 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.15, for a total value of $684,860.95. Following the transaction, the chief financial officer now owns 38,279 shares of the company’s stock, valued at $4,637,500.85. This represents 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 in the last quarter. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

TD SYNNEX Trading Down 1.0 %

Shares of NYSE:SNX opened at $123.24 on Monday. The company’s 50-day moving average price is $120.25 and its two-hundred day moving average price is $119.19. TD SYNNEX Co. has a one year low of $98.70 and a one year high of $133.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The stock has a market capitalization of $10.49 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 1.14 and a beta of 1.47.

TD SYNNEX (NYSE:SNX) last posted 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 firm had revenue of $14.68 billion during the quarter, compared to the consensus estimate of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $2.71 earnings per share. On average, equities analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

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

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.