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

TD SYNNEX logo with Computer and Technology background

Key Points

  • GSA Capital Partners LLP reduced its holdings in TD SYNNEX by 21.9%, ending with 7,272 shares valued at approximately $756,000.
  • TD SYNNEX reported earnings of $2.99 per share for its last quarter, surpassing analysts' expectations of $2.71, with a year-over-year revenue increase of 7.2% to $14.95 billion.
  • The company announced a quarterly dividend of $0.44 per share, yielding 1.3%, with a current dividend payout ratio of 20.56%.
  • Interested in TD SYNNEX? Here are five stocks we like better.

GSA Capital Partners LLP reduced its position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 21.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,272 shares of the business services provider's stock after selling 2,043 shares during the period. GSA Capital Partners LLP's holdings in TD SYNNEX were worth $756,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of SNX. Bessemer Group Inc. boosted its holdings in shares of TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after purchasing an additional 152 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of TD SYNNEX by 115.1% in the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock valued at $36,000 after purchasing an additional 183 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of TD SYNNEX during the 1st quarter valued at about $44,000. State of Wyoming boosted its stake in TD SYNNEX by 51.9% during the fourth quarter. State of Wyoming now owns 594 shares of the business services provider's stock worth $70,000 after acquiring an additional 203 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in TD SYNNEX by 16.8% during the 1st quarter. GAMMA Investing LLC now owns 750 shares of the business services provider's stock worth $78,000 after buying an additional 108 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Alim Dhanji sold 1,257 shares of the firm's stock in a transaction dated 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 directly owned 10,984 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Also, CFO Marshall Witt sold 1,509 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total transaction of $189,153.15. Following the completion of the transaction, the chief financial officer owned 49,563 shares in the company, valued at approximately $6,212,722.05. This represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,076 shares of company stock valued at $8,992,884 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

TD SYNNEX Stock Performance

TD SYNNEX stock traded up $1.28 during mid-day trading on Monday, reaching $142.13. 406,170 shares of the company traded hands, compared to its average volume of 568,655. The company has a market capitalization of $11.72 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 1.15 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. The firm's fifty day moving average is $134.20 and its two-hundred day moving average is $127.89. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $149.76.

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, topping the consensus estimate of $2.71 by $0.28. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The business had revenue of $14.95 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same period in the prior year, the company posted $2.73 EPS. The company's revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts expect that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, July 11th. TD SYNNEX's dividend payout ratio (DPR) is 20.56%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Saturday. Barrington Research reaffirmed an "outperform" rating and set a $156.00 target price on shares of TD SYNNEX in a report on Friday, July 11th. 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, July 17th. Royal Bank Of Canada restated an "outperform" rating and set a $145.00 price target on shares of TD SYNNEX in a research report on Wednesday, June 25th. Finally, Loop Capital upped their target price on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a report on Monday, June 30th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $149.30.

Get Our Latest Stock Analysis on TD SYNNEX

About TD SYNNEX

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for TD SYNNEX (NYSE:SNX)

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