TD SYNNEX Corporation (NYSE:SNX) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System lifted its holdings in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 3.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 81,456 shares of the business services provider's stock after purchasing an additional 2,935 shares during the quarter. New York State Teachers Retirement System owned 0.10% of TD SYNNEX worth $8,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNX. Bessemer Group Inc. boosted its stake in shares of TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after purchasing an additional 152 shares during the period. Versant Capital Management Inc raised its holdings in TD SYNNEX by 115.1% in the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock worth $36,000 after purchasing an additional 183 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in TD SYNNEX by 196.5% in the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider's stock worth $59,000 after purchasing an additional 336 shares in the last quarter. Amundi raised its holdings in TD SYNNEX by 22.3% in the fourth quarter. Amundi now owns 560 shares of the business services provider's stock worth $66,000 after purchasing an additional 102 shares in the last quarter. Finally, State of Wyoming grew its stake in shares of TD SYNNEX by 51.9% during the fourth quarter. State of Wyoming now owns 594 shares of the business services provider's stock worth $70,000 after acquiring an additional 203 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TD SYNNEX

In related news, CFO Marshall Witt sold 1,509 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the transaction, the chief financial officer directly owned 49,563 shares of the company's stock, valued at approximately $6,212,722.05. This represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 63,310 shares of the stock in a transaction on Friday, June 27th. The shares were sold at an average price of $136.23, for a total value of $8,624,721.30. Following the completion of the transaction, the director directly owned 67,515 shares of the company's stock, valued at approximately $9,197,568.45. This represents a 48.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,819 shares of company stock valued at $9,143,874. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SNX shares. The Goldman Sachs Group dropped their price target on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Morgan Stanley set a $155.00 price target on TD SYNNEX and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. JPMorgan Chase & Co. dropped their target price on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Barclays set a $140.00 target price on TD SYNNEX in a research report on Tuesday, June 24th. Finally, UBS Group dropped their target price on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.56.

TD SYNNEX Stock Performance

TD SYNNEX stock traded down $1.78 during mid-day trading on Monday, hitting $138.43. The company had a trading volume of 252,507 shares, compared to its average volume of 739,691. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $11.42 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 1.16 and a beta of 1.30. The company's fifty day moving average is $124.32 and its 200-day moving average is $125.01. TD SYNNEX Corporation has a 12-month low of $92.23 and a 12-month high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.28. The business had revenue of $14.95 billion during the quarter, compared to the consensus estimate of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The business's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.73 EPS. Equities research analysts predict that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.27%. The ex-dividend date is Friday, July 11th. TD SYNNEX's dividend payout ratio is currently 20.56%.

About TD SYNNEX

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.