TD SYNNEX Corporation (NYSE:SNX) Shares Sold by CenterBook Partners LP

CenterBook Partners LP lowered its stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 25.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,636 shares of the business services provider's stock after selling 1,902 shares during the period. CenterBook Partners LP's holdings in TD SYNNEX were worth $586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Barclays PLC increased its stake in TD SYNNEX by 20.1% in the fourth quarter. Barclays PLC now owns 97,617 shares of the business services provider's stock valued at $11,448,000 after purchasing an additional 16,310 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in TD SYNNEX by 3.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,252 shares of the business services provider's stock worth $754,000 after acquiring an additional 244 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in TD SYNNEX by 11.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,361 shares of the business services provider's stock worth $765,000 after acquiring an additional 785 shares in the last quarter. Sei Investments Co. lifted its position in TD SYNNEX by 25.5% in the fourth quarter. Sei Investments Co. now owns 70,745 shares of the business services provider's stock valued at $8,297,000 after acquiring an additional 14,379 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in TD SYNNEX by 95.8% in the first quarter. UMB Bank n.a. now owns 840 shares of the business services provider's stock valued at $87,000 after acquiring an additional 411 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Insiders Place Their Bets

In related news, CFO Marshall Witt sold 1,509 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the sale, the chief financial officer directly owned 49,563 shares in the company, valued at approximately $6,212,722.05. This represents a 2.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard T. Hume sold 63,310 shares of the stock in a transaction dated 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 completion of 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 have sold a total of 67,819 shares of company stock valued at $9,143,874 in the last quarter. 1.00% of the stock is currently owned by company insiders.

TD SYNNEX Price Performance

NYSE SNX traded up $0.34 during trading hours on Friday, reaching $142.81. The company's stock had a trading volume of 44,466 shares, compared to its average volume of 838,774. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.26. The company's 50-day moving average is $129.33 and its two-hundred day moving average is $126.36. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The stock has a market cap of $11.78 billion, a PE ratio of 16.68, a PEG ratio of 1.16 and a beta of 1.30.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.28. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The firm had revenue of $14.95 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the prior year, the company earned $2.73 EPS. TD SYNNEX's revenue was up 7.2% on a year-over-year basis. Analysts forecast that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be paid a $0.44 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 1.23%. TD SYNNEX's payout ratio is currently 20.56%.

Analysts Set New Price Targets

SNX has been the subject of a number of recent research reports. Barrington Research reaffirmed an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a research report on Friday, July 11th. Cfra lowered their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. The Goldman Sachs Group reduced their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, March 28th. JPMorgan Chase & Co. boosted their price target on shares of TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Morgan Stanley set a $155.00 price objective on shares of TD SYNNEX and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $147.00.

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.

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