New York State Teachers Retirement System Purchases 2,935 Shares of TD SYNNEX Corporation (NYSE:SNX)

New York State Teachers Retirement System grew its position in shares of TD SYNNEX Corporation (NYSE:SNX) by 3.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,456 shares of the business services provider’s stock after purchasing an additional 2,935 shares during the quarter. New York State Teachers Retirement System’s holdings in TD SYNNEX were worth $8,468,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Barclays PLC increased its position in shares of TD SYNNEX by 20.1% during the 4th quarter. Barclays PLC now owns 97,617 shares of the business services provider’s stock valued at $11,448,000 after purchasing an additional 16,310 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in TD SYNNEX during the 4th quarter valued at about $5,158,000. Wealth Enhancement Advisory Services LLC boosted its holdings in TD SYNNEX by 3.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,252 shares of the business services provider’s stock valued at $754,000 after acquiring an additional 244 shares during the period. Sei Investments Co. boosted its holdings in TD SYNNEX by 25.5% during the 4th quarter. Sei Investments Co. now owns 70,745 shares of the business services provider’s stock valued at $8,297,000 after acquiring an additional 14,379 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in TD SYNNEX by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider’s stock valued at $59,512,000 after acquiring an additional 9,915 shares during the period. 84.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SNX shares. Barclays set a $140.00 target price on TD SYNNEX in a report on Tuesday, June 24th. Barrington Research restated an “outperform” rating and set a $156.00 target price on shares of TD SYNNEX in a report on Monday, June 23rd. Wall Street Zen upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, June 27th. Royal Bank Of Canada restated an “outperform” rating and set a $145.00 target price on shares of TD SYNNEX in a report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. dropped their target price on TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and a consensus price target of $142.56.

TD SYNNEX Trading Up 0.7%

NYSE SNX opened at $140.21 on Friday. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.26. The stock has a 50 day simple moving average of $124.32 and a two-hundred day simple moving average of $124.90. The stock has a market cap of $11.56 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 1.16 and a beta of 1.30.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.28. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The business had revenue of $14.95 billion during the quarter, compared to analysts’ expectations of $14.30 billion. During the same quarter last year, the business posted $2.73 EPS. The business’s revenue was up 7.2% on a year-over-year basis. On average, analysts forecast that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be issued a $0.44 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.26%. TD SYNNEX’s dividend payout ratio (DPR) is 20.56%.

Insider Buying and Selling at TD SYNNEX

In other news, insider Miriam Anne Murphy sold 3,000 shares of the business’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the sale, the insider owned 14,883 shares in the company, valued at approximately $1,637,130. The trade was a 16.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Marshall Witt sold 1,509 shares of the company’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total transaction of $189,153.15. Following the completion of the sale, the chief financial officer directly owned 49,563 shares in the company, valued at $6,212,722.05. This represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,819 shares of company stock valued at $9,143,874. 1.00% of the stock is currently owned by company insiders.

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.