Cynosure Group LLC Has $305,000 Stock Position in TD SYNNEX Co. (NYSE:SNX)

Cynosure Group LLC lessened its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 29.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,601 shares of the business services provider’s stock after selling 1,109 shares during the period. Cynosure Group LLC’s holdings in TD SYNNEX were worth $305,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in TD SYNNEX by 1.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 68,289 shares of the business services provider’s stock worth $8,200,000 after purchasing an additional 746 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of TD SYNNEX by 7.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,005 shares of the business services provider’s stock valued at $1,922,000 after buying an additional 1,120 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in TD SYNNEX by 1.3% during the third quarter. Rockefeller Capital Management L.P. now owns 11,227 shares of the business services provider’s stock valued at $1,348,000 after buying an additional 141 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in TD SYNNEX in the 3rd quarter worth about $203,000. Finally, Paloma Partners Management Co purchased a new position in TD SYNNEX during the 3rd quarter valued at about $264,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Stock Performance

Shares of NYSE SNX opened at $106.73 on Thursday. The business’s 50-day simple moving average is $133.58 and its 200-day simple moving average is $125.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX Co. has a 52 week low of $98.00 and a 52 week high of $145.10. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same quarter last year, the business earned $2.99 EPS. The company’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 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, April 11th. TD SYNNEX’s dividend payout ratio is 21.97%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a research report on Friday, March 28th. Barrington Research reissued an “outperform” rating and set a $156.00 target price on shares of TD SYNNEX in a research note on Friday, March 28th. Royal Bank of Canada upped their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. The Goldman Sachs Group reduced their price objective on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Finally, Barclays dropped their target price on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $140.00.

Insider Transactions at TD SYNNEX

In related news, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the transaction, the chief financial officer now directly owns 49,843 shares in the company, valued at $6,383,891.44. The trade was a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the sale, the director now owns 4,856 shares of the company’s stock, valued at $660,804.48. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,172 shares of company stock worth $6,353,261. Company insiders own 1.00% of the company’s stock.

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.