TD SYNNEX Co. (NYSE:SNX) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System increased its position in TD SYNNEX Co. (NYSE:SNX) by 1.6% during the fourth quarter, Holdings Channel reports. The fund owned 357,709 shares of the business services provider’s stock after purchasing an additional 5,673 shares during the quarter. California Public Employees Retirement System’s holdings in TD SYNNEX were worth $41,952,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of TD SYNNEX during the fourth quarter valued at approximately $121,199,000. Ninety One UK Ltd raised its stake in TD SYNNEX by 75.4% during the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after acquiring an additional 1,016,251 shares in the last quarter. JPMorgan Chase & Co. raised its stake in TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after acquiring an additional 813,634 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of TD SYNNEX in the fourth quarter worth $47,094,000. Finally, Thrivent Financial for Lutherans increased its holdings in shares of TD SYNNEX by 92.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 715,603 shares of the business services provider’s stock valued at $83,926,000 after purchasing an additional 343,856 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at TD SYNNEX

In related news, Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the sale, the director now directly owns 4,856 shares in the company, valued at approximately $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of the transaction, the director now owns 111,080 shares in the company, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock valued at $6,353,261 over the last quarter. Company insiders own 1.00% of the company’s stock.

TD SYNNEX Trading Up 2.8 %

NYSE:SNX opened at $106.73 on Thursday. The stock has a fifty day simple moving average of $133.58 and a 200 day simple moving average of $125.50. 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 firm has a market capitalization of $9.00 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. TD SYNNEX Co. has a 1-year low of $98.00 and a 1-year high of $145.10.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. During the same quarter in the previous year, the business earned $2.99 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Sell-side analysts forecast that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a $0.44 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.65%. TD SYNNEX’s payout ratio is currently 21.97%.

Analysts Set New Price Targets

SNX has been the subject of several research analyst reports. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Cfra decreased their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a report on Friday, March 28th. UBS Group dropped their target price on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Royal Bank of Canada increased their price target on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Finally, Barclays cut their price objective on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

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.