California Public Employees Retirement System Purchases 47,276 Shares of TD SYNNEX Co. (NYSE:SNX)

California Public Employees Retirement System lifted its holdings in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 22.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 259,404 shares of the business services provider's stock after acquiring an additional 47,276 shares during the period. California Public Employees Retirement System owned approximately 0.29% of TD SYNNEX worth $27,914,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Pacer Advisors Inc. grew its position in TD SYNNEX by 33,158.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider's stock worth $143,767,000 after purchasing an additional 1,331,988 shares in the last quarter. FMR LLC grew its position in TD SYNNEX by 4.7% in the 3rd quarter. FMR LLC now owns 6,853,828 shares of the business services provider's stock worth $684,423,000 after purchasing an additional 307,844 shares in the last quarter. Vanguard Group Inc. grew its position in TD SYNNEX by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,008,606 shares of the business services provider's stock worth $500,159,000 after purchasing an additional 193,198 shares in the last quarter. Federated Hermes Inc. grew its position in TD SYNNEX by 73.4% in the 3rd quarter. Federated Hermes Inc. now owns 354,618 shares of the business services provider's stock worth $35,412,000 after purchasing an additional 150,099 shares in the last quarter. Finally, Causeway Capital Management LLC boosted its stake in TD SYNNEX by 23.0% in the third quarter. Causeway Capital Management LLC now owns 778,367 shares of the business services provider's stock valued at $77,728,000 after acquiring an additional 145,552 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SNX has been the topic of a number of research analyst reports. UBS Group upgraded shares of TD SYNNEX from a "neutral" rating to a "buy" rating and boosted their target price for the company from $115.00 to $145.00 in a research note on Tuesday, April 16th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $118.00 target price (up from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. Bank of America boosted their target price on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their target price on shares of TD SYNNEX from $113.00 to $126.00 and gave the company a "neutral" rating in a research note on Monday, April 1st. Finally, Cfra boosted their target price on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a "hold" rating in a research note on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, TD SYNNEX presently has a consensus rating of "Moderate Buy" and a consensus target price of $121.82.

Insider Buying and Selling

In related news, insider Dennis Polk sold 20,000 shares of the company's stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the sale, the insider now owns 134,706 shares of the company's stock, valued at approximately $15,908,778.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $105.57, for a total value of $1,055,700.00. Following the transaction, the chief executive officer now owns 229,363 shares of the company's stock, valued at approximately $24,213,851.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dennis Polk sold 20,000 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

TD SYNNEX Stock Performance

Shares of SNX stock traded up $0.06 during trading on Friday, reaching $117.44. 408,925 shares of the company's stock traded hands, compared to its average volume of 1,377,128. The firm's 50-day moving average is $109.12 and its 200 day moving average is $103.35. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $10.46 billion, a P/E ratio of 17.04, a PEG ratio of 1.10 and a beta of 1.64. TD SYNNEX Co. has a 1 year low of $86.30 and a 1 year high of $119.87.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.12. The business had revenue of $13.98 billion for the quarter, compared to analyst estimates of $14.37 billion. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. Equities research analysts expect that TD SYNNEX Co. will post 11.38 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Thursday, April 11th. TD SYNNEX's dividend payout ratio (DPR) is presently 23.22%.

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.