New York State Common Retirement Fund Sells 36,369 Shares of TD SYNNEX Corporation (NYSE:SNX)

New York State Common Retirement Fund reduced its holdings in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 44.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,266 shares of the business services provider's stock after selling 36,369 shares during the period. New York State Common Retirement Fund owned approximately 0.05% of TD SYNNEX worth $4,706,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. lifted its stake in TD SYNNEX by 4.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,857 shares of the business services provider's stock worth $452,000 after acquiring an additional 164 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of TD SYNNEX by 30.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,961 shares of the business services provider's stock worth $465,000 after purchasing an additional 923 shares during the last quarter. Sei Investments Co. lifted its position in TD SYNNEX by 25.5% during the fourth quarter. Sei Investments Co. now owns 70,745 shares of the business services provider's stock valued at $8,297,000 after buying an additional 14,379 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of TD SYNNEX by 2.9% during the fourth quarter. Hillsdale Investment Management Inc. now owns 7,030 shares of the business services provider's stock valued at $824,000 after purchasing an additional 200 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of TD SYNNEX in the fourth quarter worth $2,768,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SNX. Morgan Stanley set a $155.00 price objective on TD SYNNEX and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Loop Capital boosted their price target on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Wall Street Zen raised TD SYNNEX from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Barclays set a $140.00 target price on TD SYNNEX in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $145.00 price target on shares of TD SYNNEX in a research report on Wednesday, June 25th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $147.00.

TD SYNNEX Trading Up 0.7%

Shares of NYSE SNX traded up $1.06 during mid-day trading on Tuesday, hitting $143.76. The company's stock had a trading volume of 470,318 shares, compared to its average volume of 727,739. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75. The stock has a market cap of $11.86 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 1.18 and a beta of 1.30. The company's fifty day simple moving average is $129.83 and its 200-day simple moving average is $126.67. 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 released its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter in the prior year, the firm posted $2.73 earnings per share. The firm's revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 1.22%. TD SYNNEX's dividend payout ratio (DPR) is 20.56%.

Insider Buying and Selling at TD SYNNEX

In other news, CFO Marshall Witt sold 1,509 shares of TD SYNNEX 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 sale, the chief financial officer directly owned 49,563 shares of the company's stock, valued at approximately $6,212,722.05. The trade was a 2.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Miriam Anne Murphy sold 3,000 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the sale, the insider directly owned 14,883 shares of the company's stock, valued at $1,637,130. The trade was a 16.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,819 shares of company stock worth $9,143,874. 1.00% of the stock is currently owned by insiders.

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.