New York State Teachers Retirement System Acquires 2,935 Shares of TD SYNNEX Corporation (NYSE:SNX)

New York State Teachers Retirement System increased its holdings in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 3.7% during 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 about 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 also recently made changes to their positions in SNX. Barclays PLC raised its stake in shares of TD SYNNEX by 20.1% in the fourth quarter. Barclays PLC now owns 97,617 shares of the business services provider's stock worth $11,448,000 after purchasing an additional 16,310 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in TD SYNNEX during the fourth quarter worth $5,158,000. Wealth Enhancement Advisory Services LLC raised its position in TD SYNNEX by 3.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,252 shares of the business services provider's stock valued at $754,000 after buying an additional 244 shares during the last quarter. Sei Investments Co. lifted its stake in TD SYNNEX by 25.5% during the 4th quarter. Sei Investments Co. now owns 70,745 shares of the business services provider's stock valued at $8,297,000 after acquiring an additional 14,379 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in TD SYNNEX by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider's stock worth $59,512,000 after acquiring an additional 9,915 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

TD SYNNEX Stock Performance

Shares of NYSE SNX traded up $0.93 during midday trading on Friday, hitting $140.21. The company's stock had a trading volume of 680,142 shares, compared to its average volume of 745,780. The firm has a market capitalization of $11.77 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 1.16 and a beta of 1.30. 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 stock has a fifty day moving average price of $124.32 and a 200 day moving average price of $124.90. TD SYNNEX Corporation has a one year low of $92.23 and a one year high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results 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 firm had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter in the prior year, the business posted $2.73 earnings per share. The business's quarterly revenue was up 7.2% on a year-over-year basis. On average, research analysts forecast that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 1.26%. TD SYNNEX's dividend payout ratio is currently 20.56%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 63,310 shares of the stock in a transaction that occurred 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 sale, the director directly owned 67,515 shares in the company, valued at $9,197,568.45. This represents a 48.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Miriam Anne Murphy sold 3,000 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the insider owned 14,883 shares of the company's stock, valued at $1,637,130. This trade represents a 16.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,819 shares of company stock valued at $9,143,874 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Cfra reduced their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research report on Friday, March 28th. JPMorgan Chase & Co. dropped their target price on shares of 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 note on Tuesday, June 24th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $156.00 price target on shares of TD SYNNEX in a research report on Monday, June 23rd. Two investment analysts have rated the stock with a hold rating and eight 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 an average target price of $142.56.

TD SYNNEX Company 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.