Metis Global Partners LLC Has $297,000 Holdings in TD SYNNEX Co. (NYSE:SNX)

Posted by Defense World Staff on Aug 13th, 2023

Metis Global Partners LLC lessened its position in shares of TD SYNNEX Co. (NYSE:SNX – Free Report) by 44.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,067 shares of the business services provider’s stock after selling 2,415 shares during the quarter. Metis Global Partners LLC’s holdings in TD SYNNEX were worth $297,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in shares of TD SYNNEX by 31.5% during the 1st quarter. American Century Companies Inc. now owns 20,197 shares of the business services provider’s stock worth $2,085,000 after buying an additional 4,841 shares in the last quarter. US Bancorp DE boosted its holdings in shares of TD SYNNEX by 11.6% during the 1st quarter. US Bancorp DE now owns 7,213 shares of the business services provider’s stock worth $745,000 after buying an additional 747 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of TD SYNNEX by 7.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,614 shares of the business services provider’s stock worth $992,000 after buying an additional 677 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of TD SYNNEX by 202.3% during the 1st quarter. Bank of Montreal Can now owns 53,183 shares of the business services provider’s stock worth $5,569,000 after buying an additional 35,593 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of TD SYNNEX during the 1st quarter worth approximately $1,065,000. Institutional investors and hedge funds own 84.54% of the company’s stock.

Insider Buying and Selling

In related news, CFO Marshall Witt sold 602 shares of TD SYNNEX stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $97.18, for a total value of $58,502.36. Following the completion of the sale, the chief financial officer now owns 50,893 shares of the company’s stock, valued at approximately $4,945,781.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Marshall Witt sold 602 shares of TD SYNNEX stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $97.18, for a total value of $58,502.36. Following the completion of the sale, the chief financial officer now owns 50,893 shares of the company’s stock, valued at approximately $4,945,781.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Richard T. Hume sold 15,000 shares of TD SYNNEX stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $92.61, for a total value of $1,389,150.00. Following the completion of the sale, the chief executive officer now directly owns 178,150 shares of the company’s stock, valued at approximately $16,498,471.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,354,205 shares of company stock valued at $222,456,874. 1.70% of the stock is owned by insiders.

TD SYNNEX Trading Up 0.3 %

Shares of TD SYNNEX stock opened at $99.09 on Friday. TD SYNNEX Co. has a 1 year low of $78.86 and a 1 year high of $111.57. The firm has a market cap of $9.29 billion, a PE ratio of 14.12, a P/E/G ratio of 1.13 and a beta of 1.62. The stock has a fifty day moving average price of $96.39 and a 200-day moving average price of $94.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 0.76.

TD SYNNEX (NYSE:SNX – Get Free Report) last announced its earnings results on Tuesday, June 27th. The business services provider reported $2.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.55 by ($0.12). TD SYNNEX had a net margin of 1.10% and a return on equity of 13.25%. The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $14.42 billion. During the same period in the prior year, the business earned $2.66 earnings per share. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year. Equities research analysts anticipate that TD SYNNEX Co. will post 10.46 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.41%. The ex-dividend date was Thursday, July 13th. TD SYNNEX’s dividend payout ratio (DPR) is currently 19.94%.

Wall Street Analyst Weigh In

SNX has been the topic of a number of recent research reports. Bank of America cut their target price on TD SYNNEX from $120.00 to $115.00 in a report on Wednesday, June 28th. Royal Bank of Canada cut their target price on TD SYNNEX from $98.00 to $97.00 in a report on Monday, July 10th. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a report on Thursday, June 8th. Barclays dropped their price objective on TD SYNNEX from $103.00 to $98.00 in a research note on Wednesday, June 28th. Finally, Loop Capital dropped their price objective on TD SYNNEX from $150.00 to $120.00 in a research note on Wednesday, July 5th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.27.

View Our Latest Analysis on SNX

About TD SYNNEX

(Free Report)

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.