SG Americas Securities LLC Sells 20,224 Shares of TD SYNNEX Co. (NYSE:SNX)

SG Americas Securities LLC cut its holdings in TD SYNNEX Co. (NYSE:SNX) by 81.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,692 shares of the business services provider’s stock after selling 20,224 shares during the period. SG Americas Securities LLC’s holdings in TD SYNNEX were worth $505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. grew its stake in shares of TD SYNNEX by 95.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 410 shares of the business services provider’s stock valued at $40,000 after buying an additional 200 shares during the period. Advisors Asset Management Inc. acquired a new stake in shares of TD SYNNEX in the 1st quarter valued at about $51,000. Covestor Ltd grew its stake in shares of TD SYNNEX by 91.5% in the 1st quarter. Covestor Ltd now owns 697 shares of the business services provider’s stock valued at $72,000 after buying an additional 333 shares during the period. Gladius Capital Management LP grew its stake in shares of TD SYNNEX by 50.8% in the 3rd quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after buying an additional 250 shares during the period. Finally, Signaturefd LLC grew its stake in shares of TD SYNNEX by 28.9% in the 3rd quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock valued at $95,000 after buying an additional 214 shares during the period. 84.00% of the stock is owned by institutional investors.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Michael Urban sold 5,000 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $103.67, for a total transaction of $518,350.00. Following the sale, the insider now owns 36,131 shares of the company’s stock, valued at approximately $3,745,700.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Michael Urban sold 5,000 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $103.67, for a total transaction of $518,350.00. Following the completion of the transaction, the insider now directly owns 36,131 shares in the company, valued at approximately $3,745,700.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the transaction, the chief executive officer now owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The disclosure for this sale can be found here. Insiders have sold 2,289,905 shares of company stock valued at $232,556,362 in the last 90 days. 1.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SNX has been the subject of a number of analyst reports. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Barrington Research lifted their price target on TD SYNNEX from $122.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Cfra lifted their price target on TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research note on Tuesday, March 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $118.00 target price (up previously from $110.00) on shares of TD SYNNEX in a research report on Wednesday, March 27th. Finally, Bank of America lifted their target price on shares of TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $118.18.

TD SYNNEX Trading Up 0.4 %

NYSE:SNX opened at $117.71 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $10.49 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.13 and a beta of 1.64. The firm’s 50 day moving average is $104.84 and its 200 day moving average is $101.67. TD SYNNEX Co. has a 12 month low of $86.30 and a 12 month high of $119.87.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, January 9th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.57. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. The business had revenue of $14.41 billion for the quarter, compared to analysts’ expectations of $14.54 billion. During the same quarter in the previous year, the firm posted $3.30 EPS. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. Sell-side analysts expect that TD SYNNEX Co. will post 11.17 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.36%. TD SYNNEX’s payout ratio is 23.22%.

TD SYNNEX 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.