Martingale Asset Management L P Sells 4,472 Shares of TD SYNNEX Co. (NYSE:SNX)

Martingale Asset Management L P trimmed its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,485 shares of the business services provider’s stock after selling 4,472 shares during the quarter. Martingale Asset Management L P’s holdings in TD SYNNEX were worth $5,921,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SNX. Quantinno Capital Management LP lifted its holdings in shares of TD SYNNEX by 5.6% during the third quarter. Quantinno Capital Management LP now owns 15,770 shares of the business services provider’s stock worth $1,894,000 after buying an additional 831 shares in the last quarter. State Street Corp raised its stake in TD SYNNEX by 0.7% during the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock worth $262,943,000 after acquiring an additional 15,995 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of TD SYNNEX by 26.3% during the third quarter. Kovitz Investment Group Partners LLC now owns 2,620 shares of the business services provider’s stock worth $304,000 after purchasing an additional 546 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of TD SYNNEX during the third quarter worth about $219,000. Finally, Y Intercept Hong Kong Ltd boosted its holdings in TD SYNNEX by 109.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 11,003 shares of the business services provider’s stock valued at $1,321,000 after acquiring an additional 5,761 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on SNX. The Goldman Sachs Group cut their price target on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Barclays cut their price target on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. UBS Group cut their price target on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Royal Bank of Canada increased their price target on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Finally, StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $107.23 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a twelve month low of $92.23 and a twelve month high of $145.10. The stock’s 50 day moving average is $127.75 and its 200-day moving average is $124.64. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.06 and a beta of 1.36.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). The firm had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. TD SYNNEX’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.99 earnings per share. Sell-side analysts forecast that TD SYNNEX Co. will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, April 11th. TD SYNNEX’s payout ratio is currently 21.97%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the transaction, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. This represents a 3.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the completion of the transaction, the director now owns 65,480 shares of the company’s stock, valued at $8,897,422.40. This trade represents a 23.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,172 shares of company stock valued at $4,000,861. 1.00% of the stock is owned by insiders.

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.