Shell Asset Management Co. Reduces Stake in TD SYNNEX Co. (NYSE:SNX)

Shell Asset Management Co. decreased its stake in shares of TD SYNNEX Co. (NYSE:SNX – Get Rating) by 85.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 901 shares of the business services provider’s stock after selling 5,226 shares during the period. Shell Asset Management Co.’s holdings in TD SYNNEX were worth $85,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SNX. BlackRock Inc. lifted its holdings in TD SYNNEX by 6.0% during the 3rd quarter. BlackRock Inc. now owns 3,732,192 shares of the business services provider’s stock worth $303,018,000 after purchasing an additional 211,608 shares in the last quarter. GMT Capital Corp increased its stake in TD SYNNEX by 78.8% in the 4th quarter. GMT Capital Corp now owns 420,800 shares of the business services provider’s stock worth $39,854,000 after acquiring an additional 185,400 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in TD SYNNEX by 38.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 483,464 shares of the business services provider’s stock worth $49,899,000 after acquiring an additional 133,469 shares during the last quarter. Vanguard Group Inc. increased its stake in TD SYNNEX by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,215,710 shares of the business services provider’s stock worth $342,274,000 after acquiring an additional 84,548 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in TD SYNNEX by 58.0% in the 1st quarter. Bank of America Corp DE now owns 184,551 shares of the business services provider’s stock worth $19,048,000 after acquiring an additional 67,782 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Insiders Place Their Bets

In other news, insider Simon Leung sold 10,174 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $88.47, for a total value of $900,093.78. Following the completion of the transaction, the insider now owns 32,931 shares in the company, valued at approximately $2,913,405.57. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Simon Leung sold 10,174 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $88.47, for a total value of $900,093.78. Following the completion of the transaction, the insider now owns 32,931 shares in the company, valued at approximately $2,913,405.57. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Marshall Witt sold 1,082 shares of the firm’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $101.70, for a total value of $110,039.40. Following the completion of the transaction, the chief financial officer now owns 53,907 shares of the company’s stock, valued at approximately $5,482,341.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,080 shares of company stock worth $3,549,627. 1.70% of the stock is currently owned by company insiders.

TD SYNNEX Price Performance

SNX opened at $87.85 on Friday. The stock’s 50 day simple moving average is $91.53 and its 200 day simple moving average is $96.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.73. TD SYNNEX Co. has a 1 year low of $78.86 and a 1 year high of $111.57. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.90 and a beta of 1.63.

TD SYNNEX (NYSE:SNX – Get Rating) last posted its quarterly earnings results on Tuesday, March 28th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.08. TD SYNNEX had a return on equity of 13.80% and a net margin of 1.11%. The business had revenue of $15.13 billion for the quarter, compared to analyst estimates of $15.74 billion. As a group, analysts predict that TD SYNNEX Co. will post 10.96 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, April 14th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.59%. The ex-dividend date was Thursday, April 13th. TD SYNNEX’s dividend payout ratio (DPR) is currently 19.55%.

Analysts Set New Price Targets

SNX has been the topic of a number of research analyst reports. Barrington Research decreased their target price on TD SYNNEX from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 3rd. TheStreet upgraded TD SYNNEX from a “c+” rating to a “b-” rating in a research note on Friday, April 14th. Stifel Nicolaus decreased their target price on TD SYNNEX from $120.00 to $110.00 in a research note on Tuesday, March 28th. Bank of America decreased their target price on TD SYNNEX from $135.00 to $120.00 in a research note on Thursday, March 30th. Finally, StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Tuesday, April 4th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and a consensus price target of $113.91.

TD SYNNEX Company Profile

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TD SYNNEX Corp. engages in the distribution and aggregation of solutions in the information technology ecosystem. It operates through the following geographical segments: Americas, Europe, and Asia-Pacific and Japan. The firm offers IT hardware, software, and systems including personal computing devices and peripherals, mobile phones and accessories, printers, server and datacenter infrastructure, hybrid cloud, security, networking, communications and storage solutions, and system components.