Citigroup Inc. Sells 9,382 Shares of TD SYNNEX Co. (NYSE:SNX)

Citigroup Inc. lessened its holdings in TD SYNNEX Co. (NYSE:SNX) by 23.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,288 shares of the business services provider’s stock after selling 9,382 shares during the quarter. Citigroup Inc.’s holdings in TD SYNNEX were worth $3,637,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in shares of TD SYNNEX by 58.9% in the 2nd quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock worth $313,469,000 after purchasing an additional 1,006,569 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in TD SYNNEX by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock worth $258,482,000 after buying an additional 177,460 shares in the last quarter. AQR Capital Management LLC lifted its position in TD SYNNEX by 21.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock worth $178,421,000 after buying an additional 269,759 shares in the last quarter. Ninety One UK Ltd lifted its position in TD SYNNEX by 131.0% during the 2nd quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock worth $158,298,000 after buying an additional 777,924 shares in the last quarter. Finally, LSV Asset Management lifted its position in TD SYNNEX by 20.1% during the 2nd quarter. LSV Asset Management now owns 1,055,045 shares of the business services provider’s stock worth $121,752,000 after buying an additional 176,571 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Up 1.1 %

SNX opened at $123.73 on Thursday. TD SYNNEX Co. has a fifty-two week low of $96.93 and a fifty-two week high of $133.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The company has a market capitalization of $10.53 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.13 and a beta of 1.47. The stock has a fifty day moving average of $119.38 and a 200-day moving average of $119.52.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The company had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. During the same quarter last year, the business earned $2.71 earnings per share. TD SYNNEX’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts expect that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio is presently 20.70%.

Analyst Ratings Changes

SNX has been the topic of a number of research reports. Barrington Research restated an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. Loop Capital reiterated a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Barclays increased their price target 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 issued a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. Finally, StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.75.

Insider Buying and Selling at TD SYNNEX

In other news, insider David R. Vetter sold 20,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $123.14, for a total transaction of $2,462,800.00. Following the sale, the insider now directly owns 66,381 shares in the company, valued at approximately $8,174,156.34. The trade was a 23.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction dated 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 approximately $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,528 shares of company stock worth $8,400,855 over the last 90 days. Insiders own 1.90% of the company’s stock.

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.