TD SYNNEX Co. (NYSE:SNX) Stock Holdings Decreased by Assetmark Inc.

Assetmark Inc. lowered its position in shares of TD SYNNEX Co. (NYSE:SNX) by 8.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,554 shares of the business services provider’s stock after selling 143 shares during the quarter. Assetmark Inc.’s holdings in TD SYNNEX were worth $187,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SNX. Hancock Whitney Corp lifted its holdings in shares of TD SYNNEX by 57.9% in the second 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 in the last quarter. Wedge Capital Management L L P NC lifted its stake in TD SYNNEX by 20.3% in the 2nd quarter. Wedge Capital Management L L P NC now owns 31,146 shares of the business services provider’s stock worth $3,594,000 after acquiring an additional 5,252 shares in the last quarter. Friedenthal Financial acquired a new stake in TD SYNNEX during the 2nd quarter worth about $967,000. ClariVest Asset Management LLC grew its stake in TD SYNNEX by 45,552.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 16,435 shares of the business services provider’s stock valued at $1,897,000 after acquiring an additional 16,399 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of TD SYNNEX by 55.7% in the 1st quarter. Tidal Investments LLC now owns 17,508 shares of the business services provider’s stock valued at $1,980,000 after purchasing an additional 6,265 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

SNX opened at $115.30 on Friday. 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 cap of $9.81 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 1.19 and a beta of 1.48. The stock has a 50-day moving average of $118.35 and a 200-day moving average of $119.72. TD SYNNEX Co. has a 52-week low of $96.93 and a 52-week high of $133.85.

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, 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 firm had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. During the same quarter in the prior year, the business earned $2.71 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts forecast that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio is 20.70%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at TD SYNNEX

In related news, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David R. Vetter sold 20,000 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $123.14, for a total transaction of $2,462,800.00. Following the completion of the sale, the insider now directly owns 66,381 shares of the company’s stock, valued at approximately $8,174,156.34. This trade represents a 23.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,645 shares of company stock worth $8,414,329 over the last ninety days. Company insiders own 1.90% of the company’s stock.

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.