TD SYNNEX Co. (NYSE:SNX) Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP lowered its position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 71.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,521 shares of the business services provider's stock after selling 131,637 shares during the period. Invenomic Capital Management LP owned approximately 0.06% of TD SYNNEX worth $6,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in shares of TD SYNNEX by 0.4% in 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 during the period. Quadrant Capital Group LLC boosted 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 valued at $125,000 after buying an additional 90 shares during the period. Ellevest Inc. grew its stake in shares of TD SYNNEX by 3.9% in 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 increased its position in shares of TD SYNNEX by 2.5% during the fourth 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 period. Finally, Amundi raised its stake in shares of TD SYNNEX by 22.3% in the fourth quarter. Amundi now owns 560 shares of the business services provider's stock valued at $66,000 after acquiring an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insider Activity

In related news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the completion of the sale, the director now owns 65,480 shares in the company, valued at $8,897,422.40. This represents a 23.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction 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 completion of the transaction, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. This represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,510 shares of company stock valued at $3,241,001. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SNX shares. 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. Barclays reduced 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 report on Friday, March 28th. JPMorgan Chase & Co. lowered their price target on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Barrington Research restated an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a report on Friday, April 11th. Finally, The Goldman Sachs Group decreased their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $137.22.

TD SYNNEX Stock Down 0.4%

SNX stock traded down $0.46 during midday trading on Wednesday, reaching $124.46. 488,056 shares of the company were exchanged, compared to its average volume of 745,213. The company has a market cap of $10.44 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX Co. has a 1-year low of $92.23 and a 1-year high of $145.10. The stock's 50-day simple moving average is $113.42 and its 200 day simple moving average is $123.16.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). The company had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. TD SYNNEX's revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.99 earnings per share. On average, equities analysts forecast that TD SYNNEX Co. 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, April 25th. Shareholders of record on Friday, April 11th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Friday, April 11th. TD SYNNEX's dividend payout ratio is currently 21.97%.

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.