Neo Ivy Capital Management Sells 17,970 Shares of TD SYNNEX Co. (NYSE:SNX)

Neo Ivy Capital Management decreased its position in shares of TD SYNNEX Co. (NYSE:SNX) by 56.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,958 shares of the business services provider’s stock after selling 17,970 shares during the period. Neo Ivy Capital Management’s holdings in TD SYNNEX were worth $1,676,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of SNX. Cetera Advisors LLC bought a new position in TD SYNNEX during the first quarter valued at $406,000. Securian Asset Management Inc. boosted its stake in shares of TD SYNNEX by 32.7% during the second quarter. Securian Asset Management Inc. now owns 6,198 shares of the business services provider’s stock valued at $715,000 after purchasing an additional 1,529 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of TD SYNNEX during the second quarter valued at $242,000. Wedge Capital Management L L P NC boosted its stake in shares of TD SYNNEX by 20.3% during the second quarter. Wedge Capital Management L L P NC now owns 31,146 shares of the business services provider’s stock valued at $3,594,000 after purchasing an additional 5,252 shares during the period. Finally, Benson Investment Management Company Inc. purchased a new stake in shares of TD SYNNEX during the second quarter valued at $3,824,000. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $122.34 on Wednesday. The company has a market capitalization of $10.41 billion, a PE ratio of 15.83, a P/E/G ratio of 1.14 and a beta of 1.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The company has a 50-day simple moving average of $119.82 and a two-hundred day simple moving average of $119.31. TD SYNNEX Co. has a one year low of $98.70 and a one year high of $133.85.

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

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.31%. TD SYNNEX’s dividend payout ratio (DPR) is currently 20.70%.

Insider Activity

In related news, insider Dennis Polk sold 15,689 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total value of $1,834,514.77. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann F. Vezina sold 1,937 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total transaction of $234,590.07. Following the completion of the transaction, the director now owns 5,695 shares in the company, valued at approximately $689,721.45. This trade represents a 25.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,645 shares of company stock worth $8,415,189 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on SNX shares. Loop Capital reissued a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. Barclays upped 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 note on Friday, September 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Finally, StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TD SYNNEX presently has an average rating of “Moderate Buy” and a consensus target price of $134.75.

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.