Curbstone Financial Management Corp Sells 2,250 Shares of TD SYNNEX Co. (NYSE:SNX)

Curbstone Financial Management Corp decreased its position in TD SYNNEX Co. (NYSE:SNX) by 38.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,550 shares of the business services provider’s stock after selling 2,250 shares during the quarter. Curbstone Financial Management Corp’s holdings in TD SYNNEX were worth $426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in shares of TD SYNNEX by 38.5% during the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock valued at $172,081,000 after purchasing an additional 421,908 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of TD SYNNEX by 63.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 164,999 shares of the business services provider’s stock valued at $17,756,000 after purchasing an additional 64,024 shares during the last quarter. Hancock Whitney Corp increased its position in shares of TD SYNNEX by 57.9% during the 2nd quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock valued at $1,954,000 after purchasing an additional 6,207 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of TD SYNNEX during the 1st quarter valued at approximately $57,981,000. Finally, Wedge Capital Management L L P NC increased its position in shares of TD SYNNEX by 20.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 31,146 shares of the business services provider’s stock valued at $3,594,000 after purchasing an additional 5,252 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling

In related news, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total value of $1,260,111.74. Following the completion of the transaction, the chief financial officer now owns 45,115 shares in the company, valued at $4,968,966.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dennis Polk sold 15,689 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total value of $1,834,514.77. Following the sale, the insider now directly owns 134,706 shares in the company, valued at $15,751,172.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,877 shares of company stock worth $3,519,970 in the last 90 days. Insiders own 1.90% of the company’s stock.

TD SYNNEX Stock Up 1.7 %

Shares of NYSE SNX traded up $1.96 during trading hours on Friday, hitting $117.31. 432,607 shares of the stock were exchanged, compared to its average volume of 817,141. TD SYNNEX Co. has a 12 month low of $89.73 and a 12 month high of $133.85. The firm has a fifty day moving average price of $116.24 and a 200-day moving average price of $118.24. The company has a quick ratio of 0.78, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The company has a market cap of $10.03 billion, a PE ratio of 16.43, a PEG ratio of 1.19 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 (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $14.11 billion. During the same period in the prior year, the company posted $2.71 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts expect that TD SYNNEX Co. will post 11.22 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s payout ratio is 22.41%.

Wall Street Analysts Forecast Growth

SNX has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price 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. Barrington Research reiterated an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. UBS Group raised their price target on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, Bank of America lowered their price objective on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.57.

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.