State of Alaska Department of Revenue Raises Position in TD SYNNEX Corporation (NYSE:SNX)

State of Alaska Department of Revenue lifted its stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 39.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,839 shares of the business services provider's stock after buying an additional 14,205 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of TD SYNNEX worth $5,180,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of SNX. Barclays PLC grew its position in TD SYNNEX by 20.1% in the fourth quarter. Barclays PLC now owns 97,617 shares of the business services provider's stock valued at $11,448,000 after acquiring an additional 16,310 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in TD SYNNEX during the 4th quarter valued at $5,158,000. Sei Investments Co. increased 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 worth $8,297,000 after buying an additional 14,379 shares during the period. IFP Advisors Inc lifted its holdings in TD SYNNEX by 976.6% in the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider's stock worth $119,000 after buying an additional 918 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in TD SYNNEX by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider's stock valued at $59,512,000 after buying an additional 9,915 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TD SYNNEX

In related news, insider Miriam Anne Murphy sold 3,000 shares of TD SYNNEX stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the sale, the insider now directly owns 14,883 shares in the company, valued at $1,637,130. The trade was a 16.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SNX. UBS Group reduced their price target on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a report on Friday, March 28th. Morgan Stanley assumed coverage on TD SYNNEX in a research note on Wednesday, June 11th. They set an "overweight" rating and a $145.00 target price for the company. Barrington Research restated an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a research note on Friday, April 11th. JPMorgan Chase & Co. decreased their price objective on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Wall Street Zen downgraded shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, TD SYNNEX has an average rating of "Moderate Buy" and a consensus price target of $138.00.

TD SYNNEX Price Performance

SNX opened at $124.55 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.27 and a debt-to-equity ratio of 0.46. The company's 50-day moving average price is $117.78 and its 200 day moving average price is $123.96. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The firm has a market cap of $10.45 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 1.06 and a beta of 1.29.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). The company had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a return on equity of 11.54% and a net margin of 1.16%. The company's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the business posted $2.99 EPS. As a group, sell-side analysts expect that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.41%. TD SYNNEX's dividend payout ratio (DPR) is presently 21.97%.

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.

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