Pallas Capital Advisors LLC Sells 383 Shares of TD SYNNEX Co. (NYSE:SNX)

Pallas Capital Advisors LLC lessened its position in shares of TD SYNNEX Co. (NYSE:SNX) by 7.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,861 shares of the business services provider’s stock after selling 383 shares during the period. Pallas Capital Advisors LLC’s holdings in TD SYNNEX were worth $505,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its holdings in shares of TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 152 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of TD SYNNEX by 115.1% in the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 183 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 129 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of TD SYNNEX by 31.9% in the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 116 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of TD SYNNEX by 196.5% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 336 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Insider Transactions at TD SYNNEX

In other news, insider Miriam Anne Murphy sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the insider now directly owns 14,883 shares of the company’s stock, valued at approximately $1,637,130. This trade represents a 16.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction that occurred on 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. This represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SNX. Cfra decreased their price objective on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a report on Friday, March 28th. Royal Bank of Canada cut their target price on shares of TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. UBS Group cut their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Barclays cut their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. Finally, Wall Street Zen downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $138.00.

TD SYNNEX Trading Down 0.4%

Shares of SNX stock opened at $125.96 on Friday. The firm has a 50 day moving average price of $115.53 and a two-hundred day moving average price of $123.81. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $10.57 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 1.06 and a beta of 1.29. TD SYNNEX Co. has a 12-month low of $92.23 and a 12-month high of $145.10.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). The company had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned $2.99 earnings per share. As a group, analysts predict that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were given a dividend of $0.44 per share. The ex-dividend date was Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.40%. TD SYNNEX’s dividend payout ratio (DPR) is presently 21.97%.

TD SYNNEX 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.