Two Sigma Investments LP Decreases Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Two Sigma Investments LP cut its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 94.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,530 shares of the business services provider's stock after selling 358,171 shares during the quarter. Two Sigma Investments LP's holdings in TD SYNNEX were worth $2,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in SNX. Arizona State Retirement System raised its position in TD SYNNEX by 0.4% during the fourth quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider's stock valued at $2,607,000 after purchasing an additional 78 shares in the last quarter. Quadrant Capital Group LLC lifted its position in TD SYNNEX by 9.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock worth $125,000 after buying an additional 90 shares during the last quarter. Ellevest Inc. raised its stake in shares of TD SYNNEX by 3.9% during the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock worth $280,000 after acquiring an additional 90 shares in the last quarter. Utah Retirement Systems lifted its holdings in shares of TD SYNNEX by 2.5% in the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock worth $481,000 after acquiring an additional 100 shares during the last quarter. Finally, Amundi lifted its holdings in shares of TD SYNNEX by 22.3% in the 4th quarter. Amundi now owns 560 shares of the business services provider's stock worth $66,000 after acquiring an additional 102 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Stock Down 0.3%

NYSE:SNX traded down $0.33 during mid-day trading on Wednesday, hitting $122.63. 376,444 shares of the company's stock were exchanged, compared to its average volume of 735,259. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10. The business has a fifty day moving average price of $112.72 and a 200 day moving average price of $123.49. The company has a market cap of $10.29 billion, a PE ratio of 15.41, a P/E/G ratio of 1.06 and a beta of 1.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company had revenue of $14.53 billion for the quarter, compared to the consensus estimate of $14.79 billion. During the same period last year, the business earned $2.99 EPS. The firm's quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were issued a $0.44 dividend. The ex-dividend date was Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.44%. TD SYNNEX's dividend payout ratio (DPR) is presently 21.97%.

Insider Activity

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,000 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the insider now owns 14,883 shares in the company, valued at approximately $1,637,130. This represents a 16.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the transaction, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. This trade represents a 2.94% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays decreased their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. Cfra lowered their target price on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Wall Street Zen cut TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Barrington Research reaffirmed an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a research note on Friday, April 11th. Finally, The Goldman Sachs Group dropped their price objective on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $137.22.

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.