State of New Jersey Common Pension Fund D Decreases Holdings in TD SYNNEX Co. (NYSE:SNX)

State of New Jersey Common Pension Fund D lessened its stake in TD SYNNEX Co. (NYSE:SNX) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,964 shares of the business services provider’s stock after selling 1,480 shares during the period. State of New Jersey Common Pension Fund D’s holdings in TD SYNNEX were worth $2,810,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Meixler Investment Management Ltd. increased its position in TD SYNNEX by 2.0% during the 4th quarter. Meixler Investment Management Ltd. now owns 5,932 shares of the business services provider’s stock worth $696,000 after purchasing an additional 118 shares during the period. James Investment Research Inc. acquired a new stake in shares of TD SYNNEX in the 4th quarter worth approximately $207,000. Rhumbline Advisers grew its holdings in shares of TD SYNNEX by 0.3% in the 4th quarter. Rhumbline Advisers now owns 212,553 shares of the business services provider’s stock worth $24,928,000 after acquiring an additional 623 shares during the period. Blue Trust Inc. grew its holdings in shares of TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after acquiring an additional 129 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in shares of TD SYNNEX by 0.5% in the 4th quarter. New York State Teachers Retirement System now owns 78,521 shares of the business services provider’s stock worth $9,209,000 after acquiring an additional 418 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analysts Set New Price Targets

SNX has been the topic of a number of research reports. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and upped their price target for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Barclays upped their target price on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research note on Wednesday, January 15th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday, February 15th. Finally, JPMorgan Chase & Co. upped their target price on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.38.

Insider Activity at TD SYNNEX

In other news, Director Ann F. Vezina sold 839 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the transaction, the director now owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total transaction of $182,906.30. Following the transaction, the chief financial officer now directly owns 48,362 shares in the company, valued at $5,858,089.06. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,289 shares of company stock worth $3,639,500. Corporate insiders own 1.90% of the company’s stock.

TD SYNNEX Trading Down 0.5 %

SNX stock opened at $143.24 on Friday. The company has a market cap of $12.08 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 1.07 and a beta of 1.49. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $132.19 and a 200-day simple moving average of $123.08. TD SYNNEX Co. has a 52 week low of $100.04 and a 52 week high of $145.10.

TD SYNNEX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. TD SYNNEX’s dividend payout ratio is presently 22.11%.

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.