Texas Permanent School Fund Boosts Holdings in TD SYNNEX Co. (NYSE:SNX)

Texas Permanent School Fund increased its holdings in TD SYNNEX Co. (NYSE:SNXGet Rating) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,884 shares of the business services provider’s stock after buying an additional 498 shares during the quarter. Texas Permanent School Fund’s holdings in TD SYNNEX were worth $2,722,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNX. Prospera Financial Services Inc purchased a new position in shares of TD SYNNEX in the first quarter worth approximately $35,000. Ellevest Inc. boosted its holdings in shares of TD SYNNEX by 902.5% in the second quarter. Ellevest Inc. now owns 401 shares of the business services provider’s stock worth $37,000 after buying an additional 361 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of TD SYNNEX by 619.2% in the first quarter. Meeder Asset Management Inc. now owns 374 shares of the business services provider’s stock worth $39,000 after buying an additional 322 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in TD SYNNEX during the first quarter valued at approximately $51,000. Finally, Signaturefd LLC lifted its holdings in TD SYNNEX by 89.3% during the first quarter. Signaturefd LLC now owns 566 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 267 shares in the last quarter. Hedge funds and other institutional investors own 86.01% of the company’s stock.

TD SYNNEX Trading Up 2.3 %

Shares of SNX opened at $99.24 on Monday. The company’s fifty day moving average is $89.15 and its 200 day moving average is $94.99. TD SYNNEX Co. has a fifty-two week low of $78.86 and a fifty-two week high of $119.30. The stock has a market capitalization of $9.48 billion, a PE ratio of 17.38, a P/E/G ratio of 0.95 and a beta of 1.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.64 and a current ratio of 1.25.

TD SYNNEX (NYSE:SNXGet Rating) last announced its quarterly earnings results on Tuesday, September 27th. The business services provider reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.01. TD SYNNEX had a net margin of 0.89% and a return on equity of 13.47%. The company had revenue of $15.36 billion for the quarter, compared to analysts’ expectations of $15.04 billion. During the same quarter in the previous year, the business posted $2.05 earnings per share. TD SYNNEX’s quarterly revenue was up 194.9% on a year-over-year basis. Sell-side analysts expect that TD SYNNEX Co. will post 11.17 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Friday, October 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Thursday, October 13th. TD SYNNEX’s dividend payout ratio (DPR) is 21.02%.

Wall Street Analysts Forecast Growth

SNX has been the topic of several analyst reports. Cfra lowered their price target on shares of TD SYNNEX from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, September 27th. Barrington Research lowered their price target on shares of TD SYNNEX from $106.00 to $98.00 in a report on Wednesday, September 28th. TheStreet downgraded shares of TD SYNNEX from a “b-” rating to a “c+” rating in a report on Friday, September 23rd. Credit Suisse Group lowered their price target on shares of TD SYNNEX from $110.00 to $103.00 and set a “neutral” rating on the stock in a report on Tuesday, September 27th. Finally, StockNews.com began coverage on shares of TD SYNNEX in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.45.

Insider Buying and Selling at TD SYNNEX

In other news, major shareholder Star Developments Ltd Silver acquired 4,997,878 shares of the business’s stock in a transaction on Wednesday, October 5th. The shares were acquired at an average price of $87.82 per share, for a total transaction of $438,913,645.96. Following the completion of the transaction, the insider now directly owns 2,594,649 shares of the company’s stock, valued at approximately $227,862,075.18. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other TD SYNNEX news, insider Dennis Polk sold 8,000 shares of the business’s stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $90.00, for a total transaction of $720,000.00. Following the transaction, the insider now owns 155,148 shares in the company, valued at $13,963,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Star Developments Ltd Silver purchased 4,997,878 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was bought at an average price of $87.82 per share, for a total transaction of $438,913,645.96. Following the completion of the acquisition, the insider now owns 2,594,649 shares of the company’s stock, valued at approximately $227,862,075.18. The disclosure for this purchase can be found here. Insiders have sold 29,522 shares of company stock worth $2,978,339 over the last quarter. Insiders own 1.60% of the company’s stock.

About TD SYNNEX

(Get Rating)

TD SYNNEX Corporation provides business process services in the United States and internationally. The company distributes PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, consumer electronics, information technology (IT) systems including data center server and storage solutions, system components, software, networking, communications and security equipment, consumer electronics, and complementary products.

Further Reading

Institutional Ownership by Quarter for TD SYNNEX (NYSE:SNX)

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