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

New York State Teachers Retirement System increased its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,456 shares of the business services provider's stock after acquiring an additional 2,935 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of TD SYNNEX worth $8,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in TD SYNNEX by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider's stock worth $901,323,000 after purchasing an additional 29,659 shares during the period. FMR LLC raised its stake in shares of TD SYNNEX by 3.2% during the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider's stock valued at $898,738,000 after buying an additional 237,587 shares during the last quarter. Brave Warrior Advisors LLC raised its stake in shares of TD SYNNEX by 12.2% during the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider's stock valued at $486,380,000 after buying an additional 451,557 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of TD SYNNEX by 10.7% during the 4th quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider's stock valued at $391,188,000 after buying an additional 323,282 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of TD SYNNEX by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,266,614 shares of the business services provider's stock valued at $265,826,000 after buying an additional 31,404 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

TD SYNNEX Price Performance

Shares of NYSE:SNX traded up $1.53 during trading on Tuesday, reaching $141.05. 665,595 shares of the company's stock traded hands, compared to its average volume of 738,832. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. The firm has a market cap of $11.63 billion, a PE ratio of 16.48, a P/E/G ratio of 1.15 and a beta of 1.30. The company has a 50-day simple moving average of $125.49 and a 200-day simple moving average of $125.28.

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

TD SYNNEX Announces Dividend

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 issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Friday, July 11th. TD SYNNEX's payout ratio is 20.56%.

Insider Buying and Selling

In related news, Director Richard T. Hume sold 63,310 shares of TD SYNNEX stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $136.23, for a total value of $8,624,721.30. Following the sale, the director directly owned 67,515 shares in the company, valued at approximately $9,197,568.45. The trade was a 48.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Marshall Witt sold 1,509 shares of TD SYNNEX stock in a transaction dated 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 sale, the chief financial officer owned 49,563 shares in the company, valued at approximately $6,212,722.05. The trade was a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,819 shares of company stock worth $9,143,874. Insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Loop Capital lifted their price objective on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Barclays set a $140.00 price objective on TD SYNNEX in a research note on Tuesday, June 24th. Barrington Research reiterated an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a research note on Monday, June 23rd. The Goldman Sachs Group reduced their price objective on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $142.56.

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.