Louisiana State Employees Retirement System Acquires Shares of 14,400 TD SYNNEX Co. (NYSE:SNX)

Louisiana State Employees Retirement System acquired a new position in shares of TD SYNNEX Co. (NYSE:SNX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 14,400 shares of the business services provider’s stock, valued at approximately $1,550,000.

Several other large investors also recently added to or reduced their stakes in SNX. Nomura Asset Management Co. Ltd. lifted its stake in shares of TD SYNNEX by 95.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 410 shares of the business services provider’s stock worth $40,000 after buying an additional 200 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of TD SYNNEX in the first quarter valued at about $51,000. Covestor Ltd lifted its position in shares of TD SYNNEX by 91.5% during the 1st quarter. Covestor Ltd now owns 697 shares of the business services provider’s stock worth $72,000 after purchasing an additional 333 shares during the last quarter. Gladius Capital Management LP boosted its stake in TD SYNNEX by 50.8% during the 3rd quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after purchasing an additional 250 shares during the period. Finally, Signaturefd LLC grew its holdings in TD SYNNEX by 28.9% in the 3rd quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock valued at $95,000 after buying an additional 214 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on SNX. Cfra increased their price objective on TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research report on Tuesday, March 26th. UBS Group upgraded TD SYNNEX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $115.00 to $145.00 in a research report on Tuesday, April 16th. Barclays lifted their price objective on TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 27th. Royal Bank of Canada restated a “sector perform” rating and set a $118.00 target price (up previously from $110.00) on shares of TD SYNNEX in a report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. lifted their price target on TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.82.

Insider Buying and Selling

In related news, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the sale, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Michael Urban sold 5,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $105.00, for a total transaction of $525,000.00. Following the completion of the sale, the insider now directly owns 26,386 shares of the company’s stock, valued at $2,770,530. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. Insiders have sold a total of 39,355 shares of company stock worth $4,408,685 in the last ninety days. Company insiders own 1.90% of the company’s stock.

TD SYNNEX Stock Performance

SNX opened at $113.32 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75. The business has a fifty day simple moving average of $107.55 and a 200 day simple moving average of $102.66. TD SYNNEX Co. has a 1 year low of $86.30 and a 1 year high of $119.87. The company has a market capitalization of $10.10 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 1.06 and a beta of 1.64.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.71 by $0.12. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. The business had revenue of $13.98 billion for the quarter, compared to the consensus estimate of $14.37 billion. Research analysts expect that TD SYNNEX Co. will post 11.38 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Thursday, April 11th. TD SYNNEX’s payout ratio is 23.22%.

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.