Oregon Public Employees Retirement Fund raised its stake in shares of TD SYNNEX Co. (NYSE:SNX – Get Rating) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,315 shares of the business services provider’s stock after purchasing an additional 424 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in TD SYNNEX were worth $1,000,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the stock. Principal Financial Group Inc. increased its stake in TD SYNNEX by 22.1% during the second quarter. Principal Financial Group Inc. now owns 569,265 shares of the business services provider’s stock valued at $51,860,000 after acquiring an additional 103,155 shares during the period. River Road Asset Management LLC raised its stake in shares of TD SYNNEX by 8,059.6% in the second quarter. River Road Asset Management LLC now owns 1,379,617 shares of the business services provider’s stock valued at $125,683,000 after purchasing an additional 1,362,709 shares in the last quarter. GMT Capital Corp acquired a new position in shares of TD SYNNEX in the second quarter valued at $9,338,000. Beck Bode LLC boosted its stake in TD SYNNEX by 15.1% during the second quarter. Beck Bode LLC now owns 19,149 shares of the business services provider’s stock worth $1,744,000 after buying an additional 2,510 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in TD SYNNEX by 10.1% in the 2nd quarter. Rhumbline Advisers now owns 126,835 shares of the business services provider’s stock valued at $11,555,000 after buying an additional 11,591 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on SNX. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Wednesday, January 11th. JPMorgan Chase & Co. increased their target price on TD SYNNEX from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 11th. Royal Bank of Canada began coverage on TD SYNNEX in a research note on Tuesday, October 4th. They issued a “sector perform” rating and a $95.00 price target on the stock. Credit Suisse Group increased their price objective on TD SYNNEX from $103.00 to $109.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 11th. Finally, Stifel Nicolaus reduced their target price on shares of TD SYNNEX from $125.00 to $120.00 in a research note on Tuesday, September 27th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.63.
TD SYNNEX Stock Up 1.2 %
TD SYNNEX (NYSE:SNX – Get Rating) last announced its earnings results on Tuesday, January 10th. The business services provider reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.45. TD SYNNEX had a net margin of 1.04% and a return on equity of 14.08%. The company had revenue of $16.25 billion for the quarter, compared to analyst estimates of $15.78 billion. On average, research analysts expect that TD SYNNEX Co. will post 12.09 earnings per share for the current fiscal year.
TD SYNNEX Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 20th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Thursday, January 19th. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.30. TD SYNNEX’s dividend payout ratio is 20.65%.
Insider Activity at TD SYNNEX
In other TD SYNNEX news, CFO Marshall Witt sold 1,082 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $110.90, for a total transaction of $119,993.80. Following the completion of the sale, the chief financial officer now directly owns 50,893 shares of the company’s stock, valued at approximately $5,644,033.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other TD SYNNEX news, CFO Marshall Witt sold 1,082 shares of the company’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $110.90, for a total transaction of $119,993.80. Following the completion of the sale, the chief financial officer now owns 50,893 shares in the company, valued at approximately $5,644,033.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dennis Polk sold 8,000 shares of the stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $90.00, for a total value of $720,000.00. Following the completion of the transaction, the insider now directly owns 155,148 shares in the company, valued at approximately $13,963,320. The disclosure for this sale can be found here. Insiders have sold a total of 28,403 shares of company stock worth $2,727,866 over the last 90 days. Insiders own 1.60% of the company’s stock.
TD SYNNEX Company Profile
TD SYNNEX Corp. engages in the provision of a range of distribution, systems design, and integration solutions for the technology industry. The firm offers products from original equipment manufacturers as well as suppliers of technologies. It operates through the following geographical segments: Americas, Europe, and Asia-Pacific and Japan.
- Get a free copy of the StockNews.com research report on TD SYNNEX (SNX)
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