O Shaughnessy Asset Management LLC Has $370,000 Stake in TD SYNNEX Co. (NYSE:SNX)

Posted by Defense World Staff on Jun 1st, 2023

O Shaughnessy Asset Management LLC trimmed its holdings in shares of TD SYNNEX Co. (NYSE:SNX – Get Rating) by 27.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,911 shares of the business services provider’s stock after selling 1,511 shares during the period. O Shaughnessy Asset Management LLC’s holdings in TD SYNNEX were worth $370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNX. Vanguard Group Inc. boosted its position in TD SYNNEX by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,215,710 shares of the business services provider’s stock valued at $342,274,000 after buying an additional 84,548 shares during the last quarter. BlackRock Inc. boosted its position in TD SYNNEX by 6.0% in the 3rd quarter. BlackRock Inc. now owns 3,732,192 shares of the business services provider’s stock valued at $303,018,000 after buying an additional 211,608 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in TD SYNNEX by 7.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,730,742 shares of the business services provider’s stock valued at $163,921,000 after buying an additional 125,192 shares during the last quarter. River Road Asset Management LLC boosted its position in TD SYNNEX by 5.3% in the 4th quarter. River Road Asset Management LLC now owns 1,288,317 shares of the business services provider’s stock valued at $122,017,000 after buying an additional 64,912 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in TD SYNNEX by 0.6% in the 4th quarter. Nordea Investment Management AB now owns 1,270,281 shares of the business services provider’s stock valued at $120,130,000 after buying an additional 7,009 shares during the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

SNX stock opened at $89.38 on Thursday. The business’s 50-day moving average price is $90.90 and its two-hundred day moving average price is $96.54. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 0.47. The firm has a market cap of $8.44 billion, a PE ratio of 12.48, a P/E/G ratio of 0.93 and a beta of 1.63. TD SYNNEX Co. has a 1-year low of $78.86 and a 1-year high of $111.57.

TD SYNNEX (NYSE:SNX – Get Rating) last posted its earnings results on Tuesday, March 28th. The business services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.08. The firm had revenue of $15.13 billion for the quarter, compared to analyst estimates of $15.74 billion. TD SYNNEX had a return on equity of 13.80% and a net margin of 1.11%. As a group, research analysts forecast that TD SYNNEX Co. will post 10.96 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, April 14th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Thursday, April 13th. TD SYNNEX’s dividend payout ratio is 19.55%.

Analysts Set New Price Targets

A number of brokerages have commented on SNX. Cfra reiterated a “hold” rating and issued a $100.00 price objective (down from $120.00) on shares of TD SYNNEX in a research report on Tuesday, March 28th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Wednesday. Barclays reduced their price target on TD SYNNEX from $109.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 29th. Barrington Research reduced their price target on TD SYNNEX from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 3rd. Finally, JPMorgan Chase & Co. reduced their price target on TD SYNNEX from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 29th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, TD SYNNEX presently has an average rating of “Moderate Buy” and an average target price of $113.91.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Simon Leung sold 10,174 shares of TD SYNNEX stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $88.47, for a total value of $900,093.78. Following the sale, the insider now owns 32,931 shares of the company’s stock, valued at approximately $2,913,405.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other TD SYNNEX news, insider Simon Leung sold 10,174 shares of TD SYNNEX stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $88.47, for a total value of $900,093.78. Following the sale, the insider now owns 32,931 shares of the company’s stock, valued at approximately $2,913,405.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann F. Vezina sold 1,618 shares of TD SYNNEX stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $95.51, for a total value of $154,535.18. Following the completion of the sale, the director now directly owns 6,068 shares in the company, valued at approximately $579,554.68. The disclosure for this sale can be found here. Insiders have sold 28,998 shares of company stock valued at $2,662,548 in the last 90 days. 1.70% of the stock is currently owned by company insiders.

About TD SYNNEX

(Get Rating)

TD SYNNEX Corp. engages in the distribution and aggregation of solutions in the information technology ecosystem. It operates through the following geographical segments: Americas, Europe, and Asia-Pacific and Japan. The firm offers IT hardware, software, and systems including personal computing devices and peripherals, mobile phones and accessories, printers, server and datacenter infrastructure, hybrid cloud, security, networking, communications and storage solutions, and system components.