Oppenheimer Asset Management Inc. Sells 348 Shares of TD SYNNEX Co. (NYSE:SNX)

Oppenheimer Asset Management Inc. trimmed its holdings in TD SYNNEX Co. (NYSE:SNX) by 4.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,680 shares of the business services provider’s stock after selling 348 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in TD SYNNEX were worth $922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in TD SYNNEX by 24.9% in the third quarter. Victory Capital Management Inc. now owns 414,662 shares of the business services provider’s stock worth $49,793,000 after purchasing an additional 82,670 shares during the period. GSA Capital Partners LLP grew its position in shares of TD SYNNEX by 6.3% during the 3rd quarter. GSA Capital Partners LLP now owns 3,952 shares of the business services provider’s stock worth $475,000 after buying an additional 233 shares during the period. Versor Investments LP grew its position in shares of TD SYNNEX by 226.0% during the 3rd quarter. Versor Investments LP now owns 11,539 shares of the business services provider’s stock worth $1,386,000 after buying an additional 7,999 shares during the period. Meixler Investment Management Ltd. grew its position in shares of TD SYNNEX by 2.1% during the 3rd quarter. Meixler Investment Management Ltd. now owns 5,814 shares of the business services provider’s stock worth $698,000 after buying an additional 120 shares during the period. Finally, Crossmark Global Holdings Inc. grew its position in shares of TD SYNNEX by 15.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,964 shares of the business services provider’s stock worth $716,000 after buying an additional 777 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Price Performance

Shares of SNX opened at $116.30 on Tuesday. The firm has a market capitalization of $9.90 billion, a PE ratio of 15.05, a P/E/G ratio of 1.17 and a beta of 1.48. The stock has a 50 day simple moving average of $118.46 and a 200 day simple moving average of $119.75. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. TD SYNNEX Co. has a 52-week low of $96.93 and a 52-week high of $133.85.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.80 by $0.06. The firm had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.71 EPS. Sell-side analysts predict that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio is currently 20.70%.

Insider Transactions at TD SYNNEX

In related news, insider Simon Leung sold 6,249 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the sale, the insider now owns 23,339 shares in the company, valued at approximately $2,874,664.63. This represents a 21.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann F. Vezina sold 1,937 shares of the company’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 transaction, the director now directly owns 5,695 shares in the company, valued at approximately $689,721.45. This represents a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,645 shares of company stock worth $8,414,329 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

SNX has been the subject of several analyst reports. Loop Capital restated a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research report on Friday, September 27th. Barclays boosted 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. Finally, Barrington Research reiterated an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and an average target price of $134.75.

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.