GSA Capital Partners LLP Trims Stock Holdings in TD SYNNEX Corporation (NYSE:SNX)

GSA Capital Partners LLP reduced its stake in TD SYNNEX Corporation (NYSE:SNX) by 21.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,272 shares of the business services provider’s stock after selling 2,043 shares during the quarter. GSA Capital Partners LLP’s holdings in TD SYNNEX were worth $756,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC lifted its position in shares of TD SYNNEX by 3.2% in the fourth quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock valued at $898,738,000 after acquiring an additional 237,587 shares in the last quarter. Brave Warrior Advisors LLC lifted its position in shares of TD SYNNEX by 12.2% in the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock valued at $486,380,000 after acquiring an additional 451,557 shares in the last quarter. Ninety One UK Ltd lifted its position in shares of TD SYNNEX by 8.5% in the first quarter. Ninety One UK Ltd now owns 2,565,191 shares of the business services provider’s stock valued at $266,677,000 after acquiring an additional 200,628 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of TD SYNNEX by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,266,614 shares of the business services provider’s stock valued at $265,826,000 after acquiring an additional 31,404 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of TD SYNNEX by 46.9% in the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider’s stock valued at $201,235,000 after acquiring an additional 547,692 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Alim Dhanji sold 1,257 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $142.41, for a total transaction of $179,009.37. Following the completion of the sale, the insider owned 10,984 shares in the company, valued at $1,564,231.44. This trade represents a 10.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Hume sold 63,310 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $136.23, for a total value of $8,624,721.30. Following the sale, the director owned 67,515 shares of the company’s stock, valued at approximately $9,197,568.45. This trade represents a 48.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,076 shares of company stock valued at $8,992,884 over the last 90 days. 1.00% of the stock is owned by corporate insiders.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $140.58 on Friday. The stock’s 50-day moving average is $134.20 and its 200-day moving average is $128.01. The company has a market cap of $11.59 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 1.18 and a beta of 1.32. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75. TD SYNNEX Corporation has a 12 month low of $92.23 and a 12 month high of $149.76.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.28. The company had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $2.73 EPS. Equities analysts anticipate that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 1.3%. TD SYNNEX’s dividend payout ratio (DPR) is 20.56%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SNX. Barrington Research restated an “outperform” rating and issued a $156.00 price objective on shares of TD SYNNEX in a research report on Friday, July 11th. Loop Capital increased their target price on TD SYNNEX from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 30th. Morgan Stanley set a $155.00 target price on TD SYNNEX and gave the stock an “overweight” rating in a research report on Wednesday, June 25th. Bank of America increased their target price on TD SYNNEX from $156.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Wall Street Zen downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Saturday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.30.

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.