TD SYNNEX Co. (NYSE:SNX) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its position in shares of TD SYNNEX Co. (NYSE:SNX) by 74.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 230,105 shares of the business services provider’s stock after selling 674,882 shares during the quarter. Millennium Management LLC’s holdings in TD SYNNEX were worth $26,554,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. grew its holdings in shares of TD SYNNEX by 121.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after purchasing an additional 140 shares during the period. Rise Advisors LLC acquired a new position in TD SYNNEX during the first quarter valued at approximately $32,000. Pineridge Advisors LLC purchased a new stake in TD SYNNEX during the fourth quarter worth approximately $33,000. Blue Trust Inc. increased its position in shares of TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after acquiring an additional 123 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of TD SYNNEX in the 2nd quarter valued at $52,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SNX has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research note 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. Bank of America lowered their price objective on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research report on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.57.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $115.35 on Friday. The stock has a 50 day moving average of $116.25 and a 200-day moving average of $118.26. TD SYNNEX Co. has a 52 week low of $89.73 and a 52 week high of $133.85. The stock has a market cap of $9.86 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 1.19 and a beta of 1.49. The company has a current ratio of 1.25, a quick ratio of 0.78 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The business had revenue of $14.68 billion during the quarter, compared to the consensus estimate of $14.11 billion. During the same period in the previous year, the business earned $2.71 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts expect that TD SYNNEX Co. will post 11.22 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

Insider Activity

In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the transaction, the chief financial officer now owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total value of $1,260,111.74. Following the sale, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Patrick Zammit sold 3,513 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the sale, the chief operating officer now owns 140,205 shares in the company, valued at $15,882,422.40. The disclosure for this sale can be found here. In the last three months, insiders sold 15,188 shares of company stock valued at $1,685,455. Company insiders own 1.90% of the company’s stock.

About TD SYNNEX

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.