State Board of Administration of Florida Retirement System Sells 1,409 Shares of TD SYNNEX Co. (NYSE:SNX)

State Board of Administration of Florida Retirement System lowered its position in TD SYNNEX Co. (NYSE:SNXGet Rating) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,077 shares of the business services provider’s stock after selling 1,409 shares during the period. State Board of Administration of Florida Retirement System’s holdings in TD SYNNEX were worth $4,198,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SNX. Exchange Traded Concepts LLC raised its stake in shares of TD SYNNEX by 61.3% in the first quarter. Exchange Traded Concepts LLC now owns 737 shares of the business services provider’s stock valued at $76,000 after acquiring an additional 280 shares during the last quarter. Comerica Bank raised its stake in shares of TD SYNNEX by 0.5% in the first quarter. Comerica Bank now owns 19,056 shares of the business services provider’s stock valued at $1,992,000 after acquiring an additional 102 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of TD SYNNEX by 61.4% in the first quarter. SG Americas Securities LLC now owns 21,858 shares of the business services provider’s stock valued at $2,256,000 after acquiring an additional 8,315 shares during the last quarter. Signaturefd LLC raised its stake in shares of TD SYNNEX by 89.3% in the first quarter. Signaturefd LLC now owns 566 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 267 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in shares of TD SYNNEX by 2.4% in the first quarter. Mutual of America Capital Management LLC now owns 37,799 shares of the business services provider’s stock valued at $3,901,000 after acquiring an additional 873 shares during the last quarter. Institutional investors own 86.01% of the company’s stock.

TD SYNNEX Price Performance

SNX opened at $100.54 on Tuesday. The company has a fifty day moving average price of $89.29 and a two-hundred day moving average price of $94.98. 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 Co. has a 52 week low of $78.86 and a 52 week high of $119.30. The firm has a market capitalization of $9.61 billion, a PE ratio of 17.61, a P/E/G ratio of 0.95 and a beta of 1.57.

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 analysts’ consensus estimates of $2.73 by $0.01. The company had revenue of $15.36 billion for the quarter, compared to analysts’ expectations of $15.04 billion. TD SYNNEX had a net margin of 0.89% and a return on equity of 13.47%. The business’s quarterly revenue was up 194.9% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. As a group, analysts anticipate that TD SYNNEX Co. will post 11.17 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, October 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, October 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.19%. TD SYNNEX’s dividend payout ratio is 21.02%.

Insider Transactions at TD SYNNEX

In other news, CEO Richard T. Hume sold 17,900 shares of TD SYNNEX stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $106.23, for a total transaction of $1,901,517.00. Following the transaction, the chief executive officer now directly owns 117,747 shares of the company’s stock, valued at $12,508,263.81. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Richard T. Hume sold 17,900 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $106.23, for a total value of $1,901,517.00. Following the sale, the chief executive officer now directly owns 117,747 shares of the company’s stock, valued at approximately $12,508,263.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Star Developments Ltd Silver acquired 4,997,878 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was bought at an average cost 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 in the company, valued at approximately $227,862,075.18. The disclosure for this purchase can be found here. Insiders have sold a total of 27,422 shares of company stock valued at $2,757,671 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on SNX. Barrington Research cut their target price on shares of TD SYNNEX from $106.00 to $98.00 in a research note on Wednesday, September 28th. TheStreet lowered shares of TD SYNNEX from a “b-” rating to a “c+” rating in a report on Friday, September 23rd. Raymond James lowered their price target on shares of TD SYNNEX from $175.00 to $140.00 in a report on Wednesday, September 28th. Royal Bank of Canada began coverage on shares of TD SYNNEX in a report on Tuesday, October 4th. They issued a “sector perform” rating and a $95.00 price target for the company. Finally, Cfra lowered their price target on shares of TD SYNNEX from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, September 27th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $125.45.

TD SYNNEX Company Profile

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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.

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

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