MQS Management LLC Sells 3,546 Shares of TD SYNNEX Co. (NYSE:SNX)

MQS Management LLC decreased its position in TD SYNNEX Co. (NYSE:SNX) by 51.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,379 shares of the business services provider’s stock after selling 3,546 shares during the period. MQS Management LLC’s holdings in TD SYNNEX were worth $390,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. ProShare Advisors LLC boosted its holdings in shares of TD SYNNEX by 3.2% in the 1st quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock valued at $315,000 after buying an additional 86 shares during the last quarter. Fifth Third Bancorp raised its position in TD SYNNEX by 11.1% during the second quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock worth $123,000 after acquiring an additional 106 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in TD SYNNEX by 1.5% in the second quarter. SummerHaven Investment Management LLC now owns 7,704 shares of the business services provider’s stock valued at $889,000 after acquiring an additional 116 shares during the last quarter. Blue Trust Inc. grew its position in shares of TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 123 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of TD SYNNEX by 121.7% during 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 during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Stock Up 2.8 %

SNX stock opened at $118.86 on Friday. TD SYNNEX Co. has a fifty-two week low of $89.73 and a fifty-two week high of $133.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78. The stock has a market capitalization of $10.16 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.13 and a beta of 1.49. The business’s fifty day moving average price is $115.81 and its two-hundred day moving average price is $117.28.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). The business had revenue of $13.95 billion for the quarter, compared to the consensus estimate of $14.12 billion. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. On average, equities analysts anticipate that TD SYNNEX Co. will post 11.22 earnings per share for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a yield of 1.35%. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

Insider Buying and Selling at TD SYNNEX

In other news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the sale, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Marshall Witt sold 11,441 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the sale, the chief financial officer now owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Patrick Zammit sold 3,513 shares of TD SYNNEX stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the completion of the transaction, the chief operating officer now directly owns 140,205 shares in the company, valued at $15,882,422.40. The disclosure for this sale can be found here. Insiders sold 35,188 shares of company stock valued at $3,998,655 in the last three months. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SNX. Royal Bank of Canada upgraded shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $135.00 to $140.00 in a research note on Monday, July 15th. JPMorgan Chase & Co. reduced their target price on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Barrington Research restated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Wednesday, June 26th. UBS Group lifted their price objective on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average target price of $128.25.

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.