New York State Common Retirement Fund Buys 10,947 Shares of TD SYNNEX Co. (NYSE:SNX)

New York State Common Retirement Fund raised its stake in TD SYNNEX Co. (NYSE:SNX) by 8.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,371 shares of the business services provider’s stock after buying an additional 10,947 shares during the period. New York State Common Retirement Fund’s holdings in TD SYNNEX were worth $15,105,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SNX. Gladius Capital Management LP increased its stake in TD SYNNEX by 50.8% in the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after acquiring an additional 250 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of TD SYNNEX by 28.9% in the 3rd quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock worth $95,000 after purchasing an additional 214 shares in the last quarter. CWM LLC increased its position in shares of TD SYNNEX by 193.1% during the 3rd quarter. CWM LLC now owns 1,102 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 726 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of TD SYNNEX by 19.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,444 shares of the business services provider’s stock valued at $144,000 after buying an additional 233 shares in the last quarter. Finally, SVB Wealth LLC bought a new stake in TD SYNNEX in the 3rd quarter worth approximately $202,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

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

TD SYNNEX Stock Up 1.3 %

Shares of NYSE:SNX opened at $118.93 on Tuesday. The stock’s 50-day moving average is $109.48 and its 200 day moving average is $103.52. The company has a market cap of $10.60 billion, a PE ratio of 17.26, a P/E/G ratio of 1.10 and a beta of 1.64. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75. TD SYNNEX Co. has a 1 year low of $86.30 and a 1 year high of $119.87.

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

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.35%. TD SYNNEX’s dividend payout ratio is 23.22%.

Insider Activity

In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.57, for a total value of $1,055,700.00. Following the completion of the sale, the chief executive officer now directly owns 229,363 shares in the company, valued at $24,213,851.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.57, for a total value of $1,055,700.00. Following the sale, the chief executive officer now directly owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

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.