MetLife Investment Management LLC Sells 1,582 Shares of TD SYNNEX Co. (NYSE:SNX)

MetLife Investment Management LLC reduced its position in TD SYNNEX Co. (NYSE:SNX) by 3.9% during the third quarter, Holdings Channel.com reports. The firm owned 39,299 shares of the business services provider’s stock after selling 1,582 shares during the quarter. MetLife Investment Management LLC’s holdings in TD SYNNEX were worth $4,719,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc raised its holdings in TD SYNNEX by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock worth $313,000 after buying an additional 86 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of TD SYNNEX by 3.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock worth $315,000 after acquiring an additional 90 shares during the last quarter. AlphaMark Advisors LLC lifted its position in TD SYNNEX by 1.3% in the 3rd quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock valued at $929,000 after acquiring an additional 100 shares in the last quarter. Fifth Third Bancorp boosted its stake in TD SYNNEX by 11.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock valued at $123,000 after purchasing an additional 106 shares during the last quarter. Finally, Atria Investments Inc increased its holdings in TD SYNNEX by 4.1% during the 3rd quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock worth $344,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Activity

In other news, Director Ann F. Vezina sold 1,937 shares of TD SYNNEX stock in a transaction 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 directly owns 5,695 shares in the company, valued at approximately $689,721.45. The trade was a 25.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Simon Leung sold 6,249 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the sale, the insider now directly owns 23,339 shares in the company, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,645 shares of company stock valued at $8,414,329 over the last quarter. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Barclays lifted their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Barrington Research reissued an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research report on Friday, September 27th. Finally, Loop Capital reissued a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, TD SYNNEX has an average rating of “Moderate Buy” and a consensus price target of $134.75.

TD SYNNEX Trading Down 0.7 %

Shares of SNX stock opened at $118.99 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a market cap of $10.12 billion, a P/E ratio of 15.39, a PEG ratio of 1.20 and a beta of 1.48. The company has a 50 day moving average of $119.24 and a 200-day moving average of $119.60. TD SYNNEX Co. has a 12-month low of $96.93 and a 12-month high of $133.85.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.06. The firm had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.71 earnings per share. Sell-side analysts anticipate that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a $0.40 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. TD SYNNEX’s payout ratio is 20.70%.

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.