New York State Teachers Retirement System Grows Position in TD SYNNEX Co. (NYSE:SNX)

New York State Teachers Retirement System grew its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 12.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 78,177 shares of the business services provider’s stock after buying an additional 8,430 shares during the quarter. New York State Teachers Retirement System’s holdings in TD SYNNEX were worth $9,022,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SNX. Zurcher Kantonalbank Zurich Cantonalbank raised its position in TD SYNNEX by 34.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,096 shares of the business services provider’s stock valued at $1,194,000 after purchasing an additional 2,847 shares during the period. California Public Employees Retirement System grew its stake in shares of TD SYNNEX by 22.3% during the fourth quarter. California Public Employees Retirement System now owns 259,404 shares of the business services provider’s stock valued at $27,914,000 after acquiring an additional 47,276 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of TD SYNNEX by 8.5% during the fourth quarter. New York State Common Retirement Fund now owns 140,371 shares of the business services provider’s stock worth $15,105,000 after buying an additional 10,947 shares in the last quarter. Yousif Capital Management LLC raised its holdings in TD SYNNEX by 8.6% in the fourth quarter. Yousif Capital Management LLC now owns 24,387 shares of the business services provider’s stock valued at $2,624,000 after acquiring an additional 1,922 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its stake in TD SYNNEX by 7.6% during the 4th quarter. Retirement Systems of Alabama now owns 64,242 shares of the business services provider’s stock valued at $6,913,000 after acquiring an additional 4,540 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Trading Up 1.9 %

NYSE:SNX opened at $121.72 on Friday. The firm has a market capitalization of $10.40 billion, a P/E ratio of 17.05, a P/E/G ratio of 1.17 and a beta of 1.52. The business has a 50 day simple moving average of $117.03 and a 200 day simple moving average of $115.38. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78. TD SYNNEX Co. has a 12-month low of $89.73 and a 12-month high of $133.85.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.66 by ($0.05). The firm had revenue of $13.95 billion for the quarter, compared to analyst estimates of $14.12 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. Equities research analysts predict that TD SYNNEX Co. will post 11.22 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 1.31%. TD SYNNEX’s payout ratio is currently 22.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SNX shares. Bank of America cut their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. UBS Group upped their price objective on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Royal Bank of Canada upgraded TD SYNNEX from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $135.00 to $140.00 in a research report on Monday, July 15th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. reduced their price objective on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.33.

Insider Activity

In related news, COO Patrick Zammit sold 3,513 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the transaction, the chief operating officer now directly owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Patrick Zammit sold 3,513 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the sale, the chief operating officer now owns 140,205 shares of the company’s stock, valued at $15,882,422.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the transaction, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,071 shares of company stock valued at $3,985,182. Insiders own 1.90% 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.