Vontobel Holding Ltd. Sells 431 Shares of TD SYNNEX Co. (NYSE:SNX)

Vontobel Holding Ltd. cut its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 17.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,046 shares of the business services provider’s stock after selling 431 shares during the quarter. Vontobel Holding Ltd.’s holdings in TD SYNNEX were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. increased its holdings in TD SYNNEX by 121.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. UMB Bank n.a. increased its stake in shares of TD SYNNEX by 99.3% in the third 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 period. Kathleen S. Wright Associates Inc. bought a new position 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 buying an additional 123 shares during the period. Finally, GAMMA Investing LLC grew its holdings in 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 during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

NYSE:SNX opened at $119.42 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a twelve month low of $89.73 and a twelve month high of $133.85. The company has a fifty day moving average of $117.85 and a 200-day moving average of $119.21. The firm has a market capitalization of $10.16 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.23 and a beta of 1.48.

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 the consensus estimate 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 net margin of 1.20% and a return on equity of 12.15%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.71 earnings per share. As a group, sell-side analysts anticipate that TD SYNNEX Co. will post 11.06 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.34%. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.70%.

Insider Activity

In related news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $120.72, for a total value of $2,414,400.00. Following the completion of the sale, the director now owns 171,080 shares of the company’s stock, valued at approximately $20,652,777.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $120.72, for a total value of $2,414,400.00. Following the sale, the director now owns 171,080 shares in the company, valued at $20,652,777.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Marshall Witt sold 11,441 shares of TD SYNNEX stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the transaction, the chief financial officer now owns 45,115 shares of the company’s stock, valued at $4,968,966.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,954 shares of company stock worth $8,918,668 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America dropped their price target on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. JPMorgan Chase & Co. reduced their price target on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. UBS Group raised their price objective on TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Loop Capital reissued a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, Barrington Research restated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.75.

TD SYNNEX Company 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.