Entropy Technologies LP Trims Stock Position in TD SYNNEX Co. (NYSE:SNX)

Entropy Technologies LP trimmed its holdings in TD SYNNEX Co. (NYSE:SNX) by 68.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,095 shares of the business services provider’s stock after selling 8,896 shares during the period. Entropy Technologies LP’s holdings in TD SYNNEX were worth $492,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in TD SYNNEX during the third quarter worth about $30,000. UMB Bank n.a. boosted its position in TD SYNNEX by 99.3% in the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after purchasing an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of TD SYNNEX during the 3rd quarter worth approximately $37,000. Blue Trust Inc. increased its holdings in shares of TD SYNNEX by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 123 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of TD SYNNEX in the 2nd quarter valued at $52,000. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Dennis Polk sold 15,689 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,751,172.58. The trade was a 10.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann F. Vezina sold 1,937 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total value of $234,590.07. Following the completion of the transaction, the director now owns 5,695 shares of the company’s stock, valued at $689,721.45. The trade was a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,645 shares of company stock valued at $8,414,329. 1.90% of the stock is currently owned by insiders.

TD SYNNEX Stock Down 0.3 %

NYSE SNX opened at $115.30 on Friday. The business has a fifty day moving average price of $118.35 and a 200 day moving average price of $119.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The company has a market cap of $9.81 billion, a P/E ratio of 14.92, a P/E/G ratio of 1.19 and a beta of 1.48. TD SYNNEX Co. has a one year low of $96.93 and a one year high of $133.85.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share 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% on a year-over-year basis. During the same period last year, the company posted $2.71 EPS. Research analysts anticipate that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.70%.

Analyst Ratings Changes

A number of research firms have weighed in on SNX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a report on Friday, September 27th. Loop Capital restated a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a research note on Monday, October 7th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Barclays raised their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Finally, Barrington Research reiterated an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. Three equities 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 presently has a consensus rating of “Moderate Buy” and an average price target of $134.75.

TD SYNNEX Company 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.