Mutual of America Capital Management LLC Sells 3,388 Shares of TD SYNNEX Co. (NYSE:SNX)

Mutual of America Capital Management LLC cut its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,108 shares of the business services provider’s stock after selling 3,388 shares during the period. Mutual of America Capital Management LLC’s holdings in TD SYNNEX were worth $4,936,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SNX. ProShare Advisors LLC boosted its stake in shares of TD SYNNEX by 3.2% in the 1st quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock valued at $315,000 after purchasing an additional 86 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of TD SYNNEX by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock worth $313,000 after acquiring an additional 86 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake 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 valued at $315,000 after purchasing an additional 90 shares during the period. AlphaMark Advisors LLC grew its stake in TD SYNNEX by 1.3% during the third quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock worth $929,000 after purchasing an additional 100 shares during the period. Finally, Fifth Third Bancorp increased its holdings in TD SYNNEX by 11.1% in the second quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock worth $123,000 after purchasing an additional 106 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at TD SYNNEX

In related news, insider Dennis Polk sold 15,689 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the completion of the transaction, the insider now owns 134,706 shares in the company, valued at approximately $15,751,172.58. This represents a 10.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the completion of the sale, the director now directly owns 171,080 shares in the company, valued at approximately $20,652,777.60. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,645 shares of company stock worth $8,414,329. Insiders own 1.90% of the company’s stock.

TD SYNNEX Stock Up 1.2 %

SNX stock opened at $116.06 on Thursday. The firm has a market capitalization of $9.88 billion, a PE ratio of 15.01, a P/E/G ratio of 1.17 and a beta of 1.48. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a twelve month low of $96.93 and a twelve month high of $133.85. The stock’s 50 day moving average is $118.66 and its 200-day moving average is $119.70.

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

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

Analyst Upgrades and Downgrades

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

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.