Metis Global Partners LLC Sells 270 Shares of TD SYNNEX Co. (NYSE:SNX)

Metis Global Partners LLC trimmed its position in TD SYNNEX Co. (NYSE:SNX) by 8.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,797 shares of the business services provider’s stock after selling 270 shares during the quarter. Metis Global Partners LLC’s holdings in TD SYNNEX were worth $336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of TD SYNNEX by 23.4% during the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock worth $751,143,000 after acquiring an additional 1,261,474 shares in the last quarter. Pacer Advisors Inc. increased its position in TD SYNNEX by 58.9% in the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock worth $313,469,000 after purchasing an additional 1,006,569 shares during the last quarter. Ninety One UK Ltd raised its stake in TD SYNNEX by 131.0% during the second quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock valued at $158,298,000 after purchasing an additional 777,924 shares in the last quarter. Lind Value II ApS bought a new position in TD SYNNEX during the first quarter valued at $77,858,000. Finally, AQR Capital Management LLC grew its stake in shares of TD SYNNEX by 21.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock worth $178,421,000 after buying an additional 269,759 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

TD SYNNEX Stock Performance

SNX stock opened at $116.30 on Tuesday. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.17 and a beta of 1.48. TD SYNNEX Co. has a twelve month low of $96.93 and a twelve month high of $133.85. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $118.46 and its two-hundred day simple moving average is $119.75.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06. The company had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $2.71 EPS. Analysts predict that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Announces Dividend

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

Insiders Place Their Bets

In other TD SYNNEX news, insider Dennis Polk sold 15,689 shares of the firm’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 of the company’s stock, valued at approximately $15,751,172.58. This trade represents a 10.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the completion of the sale, the director now directly owns 171,080 shares of the company’s stock, valued at $20,652,777.60. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,645 shares of company stock worth $8,414,329 in the last ninety days. 1.90% of the stock is owned by company insiders.

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.