Janney Montgomery Scott LLC Sells 223 Shares of TD SYNNEX Co. (NYSE:SNX)

Janney Montgomery Scott LLC lessened its holdings in TD SYNNEX Co. (NYSE:SNX) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,344 shares of the business services provider’s stock after selling 223 shares during the quarter. Janney Montgomery Scott LLC’s holdings in TD SYNNEX were worth $1,242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. ProShare Advisors LLC boosted its stake in TD SYNNEX by 3.2% in the first 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 in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of TD SYNNEX by 3.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock worth $315,000 after acquiring an additional 90 shares during the last quarter. AlphaMark Advisors LLC boosted its stake in shares of TD SYNNEX by 1.3% in the 3rd quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock valued at $929,000 after purchasing an additional 100 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of TD SYNNEX by 11.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock valued at $123,000 after purchasing an additional 106 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its position in TD SYNNEX by 1.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 7,704 shares of the business services provider’s stock worth $889,000 after purchasing an additional 116 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Ann F. Vezina sold 1,937 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total value of $234,590.07. Following the completion of the sale, the director now directly owns 5,695 shares in the company, valued at approximately $689,721.45. This trade represents a 25.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dennis Polk sold 15,689 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the transaction, the insider now owns 134,706 shares in the company, valued at $15,751,172.58. This represents a 10.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,645 shares of company stock valued at $8,414,329. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

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

TD SYNNEX Price Performance

TD SYNNEX stock opened at $115.72 on Friday. The stock’s 50 day moving average is $118.27 and its 200 day moving average is $119.73. TD SYNNEX Co. has a one year low of $96.93 and a one year high of $133.85. The firm has a market cap of $9.85 billion, a P/E ratio of 14.97, a P/E/G ratio of 1.20 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77.

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

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.70%.

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.