Shell Asset Management Co. Sells 1,142 Shares of TD SYNNEX Co. (NYSE:SNX)

Shell Asset Management Co. lessened its holdings in TD SYNNEX Co. (NYSE:SNXGet Rating) by 12.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,721 shares of the business services provider’s stock after selling 1,142 shares during the quarter. Shell Asset Management Co.’s holdings in TD SYNNEX were worth $797,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. CWM LLC bought a new position in TD SYNNEX during the 4th quarter worth approximately $38,000. Covestor Ltd bought a new position in TD SYNNEX during the 4th quarter worth approximately $42,000. Denali Advisors LLC boosted its stake in TD SYNNEX by 29.1% during the 1st quarter. Denali Advisors LLC now owns 461 shares of the business services provider’s stock worth $48,000 after acquiring an additional 104 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in TD SYNNEX by 175.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 490 shares of the business services provider’s stock worth $55,000 after acquiring an additional 312 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in TD SYNNEX by 89.3% during the 1st quarter. Signaturefd LLC now owns 566 shares of the business services provider’s stock worth $58,000 after acquiring an additional 267 shares during the last quarter. Institutional investors own 85.54% of the company’s stock.

TD SYNNEX Price Performance

NYSE SNX opened at $100.42 on Monday. The company has a quick ratio of 0.69, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. TD SYNNEX Co. has a 12-month low of $88.21 and a 12-month high of $130.93. The company has a market capitalization of $9.63 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 0.91 and a beta of 1.60. The firm’s 50 day moving average is $96.32 and its 200-day moving average is $101.02.

TD SYNNEX (NYSE:SNXGet Rating) last posted its quarterly earnings data on Tuesday, June 28th. The business services provider reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.14. TD SYNNEX had a net margin of 0.96% and a return on equity of 13.95%. The company had revenue of $15.27 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same period last year, the company earned $2.00 earnings per share. The firm’s revenue was up 160.7% compared to the same quarter last year. Equities research analysts anticipate that TD SYNNEX Co. will post 11.31 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, July 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.19%. TD SYNNEX’s payout ratio is 20.10%.

Insider Buying and Selling

In related news, CFO Marshall Witt sold 909 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $91.65, for a total transaction of $83,309.85. Following the transaction, the chief financial officer now directly owns 45,887 shares in the company, valued at $4,205,543.55. The sale was disclosed in a filing with the SEC, which is available through this link. In other TD SYNNEX news, insider Dennis Polk sold 1,300 shares of TD SYNNEX stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $101.81, for a total transaction of $132,353.00. Following the completion of the transaction, the insider now directly owns 151,153 shares of the company’s stock, valued at $15,388,886.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Marshall Witt sold 909 shares of TD SYNNEX stock in a transaction on Friday, July 15th. The stock was sold at an average price of $91.65, for a total transaction of $83,309.85. Following the transaction, the chief financial officer now directly owns 45,887 shares of the company’s stock, valued at $4,205,543.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,394 shares of company stock worth $2,900,505. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SNX shares. JPMorgan Chase & Co. started coverage on shares of TD SYNNEX in a research note on Thursday, July 14th. They set an “overweight” rating and a $119.00 price objective on the stock. TheStreet downgraded shares of TD SYNNEX from a “b-” rating to a “c+” rating in a report on Tuesday, July 5th. Barrington Research dropped their target price on shares of TD SYNNEX from $128.00 to $106.00 and set an “outperform” rating on the stock in a report on Friday, July 1st. Stifel Nicolaus upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Thursday, April 14th. Finally, Citigroup dropped their target price on shares of TD SYNNEX from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $138.75.

TD SYNNEX Company Profile

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TD SYNNEX Corporation provides business process services in the United States and internationally. The company distributes PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, consumer electronics, information technology (IT) systems including data center server and storage solutions, system components, software, networking, communications and security equipment, consumer electronics, and complementary products.

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Institutional Ownership by Quarter for TD SYNNEX (NYSE:SNX)

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