Charles Schwab Investment Management Inc. Trims Stock Position in TD SYNNEX Co. (NYSE:SNX)

Charles Schwab Investment Management Inc. trimmed its holdings in TD SYNNEX Co. (NYSE:SNX) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 497,520 shares of the business services provider’s stock after selling 1,693 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.58% of TD SYNNEX worth $59,742,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in shares of TD SYNNEX during the 3rd quarter worth about $30,000. UMB Bank n.a. raised its stake in shares of TD SYNNEX by 99.3% in the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 144 shares during the period. Kathleen S. Wright Associates Inc. purchased a new stake in shares of TD SYNNEX in the 3rd quarter valued at approximately $37,000. Blue Trust Inc. lifted its holdings in shares of TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after acquiring an additional 123 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of TD SYNNEX by 217.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock worth $52,000 after purchasing an additional 311 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Price Performance

Shares of SNX opened at $118.99 on Friday. The firm has a market capitalization of $10.12 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.21 and a beta of 1.48. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a twelve month low of $96.93 and a twelve month high of $133.85. The firm’s fifty day simple moving average is $119.22 and its 200-day simple moving average is $119.65.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. The business had revenue of $14.68 billion for 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 business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.71 earnings per share. Equities analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.34%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider David R. Vetter sold 20,000 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $123.14, for a total transaction of $2,462,800.00. Following the sale, the insider now directly owns 66,381 shares in the company, valued at approximately $8,174,156.34. The trade was a 23.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the transaction, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,645 shares of company stock valued at $8,414,329. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.