TD SYNNEX Co. (NYSE:SNX) Holdings Boosted by California Public Employees Retirement System

California Public Employees Retirement System boosted its position in shares of TD SYNNEX Co. (NYSE:SNX) by 22.3% during the 4th quarter, HoldingsChannel reports. The firm owned 259,404 shares of the business services provider’s stock after buying an additional 47,276 shares during the quarter. California Public Employees Retirement System’s holdings in TD SYNNEX were worth $27,914,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cetera Trust Company N.A acquired a new stake in shares of TD SYNNEX during the 4th quarter valued at $281,000. Xponance Inc. boosted its stake in shares of TD SYNNEX by 15.6% during the 4th quarter. Xponance Inc. now owns 7,304 shares of the business services provider’s stock valued at $786,000 after buying an additional 988 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of TD SYNNEX by 34.5% in the 4th 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 last quarter. Mackenzie Financial Corp lifted its stake in shares of TD SYNNEX by 9.9% in the 4th quarter. Mackenzie Financial Corp now owns 7,002 shares of the business services provider’s stock valued at $753,000 after purchasing an additional 628 shares during the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of TD SYNNEX in the 4th quarter valued at $467,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the sale, the chief executive officer now directly owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the transaction, the chief executive officer now directly owns 229,363 shares in the company, valued at $24,213,851.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 134,706 shares in the company, valued at $15,908,778.60. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SNX shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $118.00 price objective (up previously 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 stock a “buy” rating in a research report on Tuesday, April 2nd. Barrington Research boosted their target price on shares of TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. boosted their target price on shares of TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Finally, Cfra boosted their target price on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and an average price target of $121.82.

TD SYNNEX Stock Performance

NYSE SNX opened at $117.44 on Friday. The stock has a market cap of $10.46 billion, a P/E ratio of 17.05, a PEG ratio of 1.10 and a beta of 1.64. The company’s 50-day simple moving average is $109.12 and its 200 day simple moving average is $103.30. TD SYNNEX Co. has a twelve month low of $86.30 and a twelve month high of $119.87. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.12. The business had revenue of $13.98 billion for the quarter, compared to analysts’ expectations of $14.37 billion. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. As a group, research analysts forecast that TD SYNNEX Co. will post 11.38 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, April 11th. This represents a $1.60 annualized dividend and a yield of 1.36%. TD SYNNEX’s dividend payout ratio is 23.22%.

TD SYNNEX Company 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.