Causeway Capital Management LLC Sells 36,695 Shares of TD SYNNEX Co. (NYSE:SNX)

Causeway Capital Management LLC decreased its position in shares of TD SYNNEX Co. (NYSE:SNX) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 596,782 shares of the business services provider’s stock after selling 36,695 shares during the period. TD SYNNEX accounts for 1.6% of Causeway Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. Causeway Capital Management LLC’s holdings in TD SYNNEX were worth $69,991,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC boosted its holdings in TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the period. Bessemer Group Inc. grew its position in TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after buying an additional 152 shares in the last quarter. UMB Bank n.a. raised its holdings in TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 140 shares in the last quarter. Blue Trust Inc. boosted its stake in TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after buying an additional 129 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in TD SYNNEX by 31.9% in the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock valued at $56,000 after buying an additional 116 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX 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 of the company’s stock, valued at $6,383,891.44. This trade represents a 2.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction that occurred 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 directly owns 65,480 shares of the company’s stock, valued at $8,897,422.40. The trade was a 23.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,172 shares of company stock valued at $4,000,861 in the last 90 days. 1.00% of the stock is owned by company insiders.

TD SYNNEX Trading Down 0.0 %

SNX stock opened at $101.83 on Monday. The business has a fifty day moving average of $126.24 and a 200-day moving average of $124.46. The company has a market cap of $8.55 billion, a P/E ratio of 12.79, a PEG ratio of 1.06 and a beta of 1.36. TD SYNNEX Co. has a twelve month low of $92.23 and a twelve month high of $145.10. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) 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 business had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same quarter in the previous year, the company posted $2.99 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts expect that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s payout ratio is 21.97%.

Analyst Ratings Changes

A number of brokerages have issued reports on SNX. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. reduced their price target on shares of TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday. Barrington Research reaffirmed an “outperform” rating and set a $156.00 price objective on shares of TD SYNNEX in a report on Friday, March 28th. UBS Group decreased their price target on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Finally, Royal Bank of Canada cut their price objective on TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.