Clark Estates Inc. NY Decreases Stock Position in TD SYNNEX Co. (NYSE:SNX)

Clark Estates Inc. NY decreased its position in shares of TD SYNNEX Co. (NYSE:SNX) by 7.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,800 shares of the business services provider’s stock after selling 2,200 shares during the period. Clark Estates Inc. NY’s holdings in TD SYNNEX were worth $3,218,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SNX. V Square Quantitative Management LLC bought a new position in shares of TD SYNNEX in the 3rd quarter valued at about $30,000. UMB Bank n.a. lifted its stake in shares of 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 purchasing an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of TD SYNNEX in the 3rd quarter worth approximately $37,000. Blue Trust Inc. boosted its stake in TD SYNNEX by 52.3% during the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after buying an additional 123 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of TD SYNNEX by 217.5% in 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 during the last quarter. Institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

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

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $120.65 on Wednesday. The company has a 50-day simple moving average of $119.03 and a two-hundred day simple moving average of $119.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. TD SYNNEX Co. has a one year low of $96.93 and a one year high of $133.85. The company has a market capitalization of $10.27 billion, a PE ratio of 15.61, a P/E/G ratio of 1.22 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate 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%. TD SYNNEX’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $2.71 earnings per share. Research analysts expect 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 given a dividend of $0.40 per share. The ex-dividend date was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.33%. TD SYNNEX’s dividend payout ratio is currently 20.70%.

Insider Activity

In other news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the completion of the transaction, the director now directly owns 171,080 shares of the company’s stock, valued at $20,652,777.60. The trade was a 10.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Witt sold 5,653 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.15, for a total value of $684,860.95. Following the sale, the chief financial officer now owns 38,279 shares in the company, valued at $4,637,500.85. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,645 shares of company stock valued at $8,414,329. Company insiders own 1.90% of the company’s stock.

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.