TD SYNNEX Co. (NYSE:SNX) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its holdings in TD SYNNEX Co. (NYSE:SNX) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 28,577 shares of the business services provider’s stock after buying an additional 1,328 shares during the period. State of New Jersey Common Pension Fund D’s holdings in TD SYNNEX were worth $3,298,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. ProShare Advisors LLC boosted its holdings in shares of TD SYNNEX by 3.2% in the 1st quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock valued at $315,000 after buying an additional 86 shares during the period. Fifth Third Bancorp boosted its holdings in shares of TD SYNNEX by 11.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock valued at $123,000 after buying an additional 106 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of TD SYNNEX by 1.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,704 shares of the business services provider’s stock valued at $889,000 after buying an additional 116 shares during the period. Blue Trust Inc. boosted its holdings in shares of TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after buying an additional 123 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of TD SYNNEX by 121.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after buying an additional 140 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on SNX. Royal Bank of Canada raised shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $135.00 to $140.00 in a report on Monday, July 15th. Barrington Research reiterated an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research report on Wednesday, June 26th. Bank of America cut their price objective on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.33.

TD SYNNEX Stock Up 1.8 %

SNX stock opened at $116.17 on Wednesday. TD SYNNEX Co. has a 52 week low of $89.73 and a 52 week high of $133.85. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 1.10 and a beta of 1.49. The firm’s 50-day moving average is $115.60 and its two-hundred day moving average is $117.21. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47.

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

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.38%. TD SYNNEX’s payout ratio is currently 22.41%.

Insider Buying and Selling

In related news, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the sale, the chief financial officer now directly owns 45,115 shares in the company, valued at approximately $4,968,966.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the sale, the chief financial officer now directly owns 45,115 shares in the company, valued at approximately $4,968,966.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $113.28, for a total transaction of $397,952.64. Following the completion of the sale, the chief operating officer now owns 140,205 shares in the company, valued at $15,882,422.40. The disclosure for this sale can be found here. Insiders have sold 35,188 shares of company stock worth $3,998,655 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

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.