TD SYNNEX Corporation (NYSE:SNX) Position Reduced by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 30.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,994 shares of the business services provider's stock after selling 28,439 shares during the quarter. Teacher Retirement System of Texas owned 0.08% of TD SYNNEX worth $6,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC boosted its holdings in shares of TD SYNNEX by 20.1% during the 4th quarter. Barclays PLC now owns 97,617 shares of the business services provider's stock valued at $11,448,000 after purchasing an additional 16,310 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of TD SYNNEX during the fourth quarter worth $5,158,000. Wealth Enhancement Advisory Services LLC boosted its holdings in TD SYNNEX by 3.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,252 shares of the business services provider's stock valued at $754,000 after purchasing an additional 244 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of TD SYNNEX by 11.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,361 shares of the business services provider's stock worth $765,000 after acquiring an additional 785 shares during the period. Finally, Sei Investments Co. raised its position in shares of TD SYNNEX by 25.5% in the fourth quarter. Sei Investments Co. now owns 70,745 shares of the business services provider's stock worth $8,297,000 after acquiring an additional 14,379 shares during the period. 84.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SNX. Loop Capital upped their price objective on shares of TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, June 30th. UBS Group lowered their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Friday, March 28th. JPMorgan Chase & Co. reduced their target price on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Morgan Stanley set a $155.00 target price on shares of TD SYNNEX and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Finally, Barrington Research reiterated an "outperform" rating and set a $156.00 target price on shares of TD SYNNEX in a report on Monday, June 23rd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, TD SYNNEX presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.56.

TD SYNNEX Trading Up 0.7%

SNX traded up $0.93 during trading on Thursday, hitting $142.43. 792,775 shares of the company's stock were exchanged, compared to its average volume of 736,380. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. TD SYNNEX Corporation has a 1 year low of $92.23 and a 1 year high of $145.10. The stock has a 50 day moving average price of $126.11 and a 200 day moving average price of $125.39. The firm has a market cap of $11.75 billion, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 1.16 and a beta of 1.30.

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, topping the consensus estimate of $2.71 by $0.28. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The company had revenue of $14.95 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same period in the previous year, the firm earned $2.73 earnings per share. TD SYNNEX's revenue for the quarter was up 7.2% on a year-over-year basis. As a group, analysts expect that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.24%. TD SYNNEX's payout ratio is currently 20.56%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,509 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total transaction of $189,153.15. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Miriam Anne Murphy sold 3,000 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the sale, the insider directly owned 14,883 shares in the company, 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 have sold 67,819 shares of company stock valued at $9,143,874 over the last ninety days. Corporate insiders own 1.00% of the company's stock.

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.