Teacher Retirement System of Texas Reduces Stock Position in TD SYNNEX Corporation (NYSE:SNX)

Teacher Retirement System of Texas lowered its holdings in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 30.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 SEC filing.

Other large investors also recently bought and sold shares of the company. Arizona State Retirement System lifted its holdings in shares of TD SYNNEX by 0.4% in the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider's stock worth $2,607,000 after buying an additional 78 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of TD SYNNEX by 9.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock worth $125,000 after buying an additional 90 shares during the period. Ellevest Inc. lifted its holdings in shares of TD SYNNEX by 3.9% in the 4th quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock worth $280,000 after buying an additional 90 shares during the period. Utah Retirement Systems lifted its holdings in shares of TD SYNNEX by 2.5% in the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock worth $481,000 after buying an additional 100 shares during the period. Finally, Amundi lifted its holdings in shares of TD SYNNEX by 22.3% in the 4th quarter. Amundi now owns 560 shares of the business services provider's stock worth $66,000 after buying an additional 102 shares during the period. Hedge funds and other institutional investors own 84.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Friday, April 11th. UBS Group lowered their target price on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a report on Friday, March 28th. Cfra decreased their price objective on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Barclays set a $140.00 price objective on TD SYNNEX in a research note on Tuesday, June 24th. Finally, The Goldman Sachs Group decreased 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. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, TD SYNNEX currently has an average rating of "Moderate Buy" and an average price target of $142.56.

Insiders Place Their Bets

In other TD SYNNEX news, CFO Marshall Witt sold 1,509 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total transaction of $189,153.15. Following the transaction, the chief financial officer owned 49,563 shares in the company, 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 SEC, which can be accessed through this hyperlink. Also, insider Miriam Anne Murphy sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the transaction, the insider owned 14,883 shares in the company, valued at $1,637,130. This represents a 16.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,819 shares of company stock worth $9,143,874. 1.00% of the stock is owned by corporate insiders.

TD SYNNEX Trading Up 0.7%

Shares of NYSE:SNX opened at $140.21 on Monday. The business's 50-day moving average is $124.32 and its 200 day moving average is $125.01. TD SYNNEX Corporation has a 1 year low of $92.23 and a 1 year high of $145.10. The firm has a market capitalization of $11.56 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.16 and a beta of 1.30. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results 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 for the quarter, compared to analyst estimates of $14.30 billion. During the same period in the prior year, the company posted $2.73 EPS. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. On average, research analysts predict that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

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

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.

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