State Board of Administration of Florida Retirement System Has $4.20 Million Holdings in TD SYNNEX Co. (NYSE:SNX)

State Board of Administration of Florida Retirement System lessened its holdings in shares of TD SYNNEX Co. (NYSE:SNXGet Rating) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,077 shares of the business services provider’s stock after selling 1,409 shares during the period. State Board of Administration of Florida Retirement System’s holdings in TD SYNNEX were worth $4,198,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SNX. River Road Asset Management LLC lifted its holdings in shares of TD SYNNEX by 8,059.6% during the 2nd quarter. River Road Asset Management LLC now owns 1,379,617 shares of the business services provider’s stock worth $125,683,000 after acquiring an additional 1,362,709 shares during the period. LSV Asset Management increased its stake in TD SYNNEX by 34.8% in the first quarter. LSV Asset Management now owns 836,557 shares of the business services provider’s stock valued at $86,341,000 after acquiring an additional 216,131 shares during the last quarter. Greenlight Capital Inc. bought a new stake in TD SYNNEX during the first quarter worth $17,308,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of TD SYNNEX by 38.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 483,464 shares of the business services provider’s stock valued at $49,899,000 after purchasing an additional 133,469 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of TD SYNNEX by 255.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 179,489 shares of the business services provider’s stock valued at $16,350,000 after purchasing an additional 128,924 shares in the last quarter. Institutional investors and hedge funds own 86.01% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Marshall Witt sold 612 shares of TD SYNNEX stock in a transaction dated Thursday, October 20th. The stock was sold at an average price of $85.87, for a total value of $52,552.44. Following the completion of the transaction, the chief financial officer now directly owns 52,398 shares of the company’s stock, valued at approximately $4,499,416.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other TD SYNNEX news, major shareholder Star Developments Ltd Silver acquired 4,997,878 shares of the stock in a transaction dated Wednesday, October 5th. The stock was purchased at an average cost of $87.82 per share, with a total value of $438,913,645.96. Following the transaction, the insider now owns 2,594,649 shares in the company, valued at approximately $227,862,075.18. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Marshall Witt sold 612 shares of TD SYNNEX stock in a transaction dated Thursday, October 20th. The stock was sold at an average price of $85.87, for a total value of $52,552.44. Following the completion of the transaction, the chief financial officer now directly owns 52,398 shares of the company’s stock, valued at $4,499,416.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,422 shares of company stock valued at $2,757,671. 1.60% of the stock is currently owned by company insiders.

TD SYNNEX Stock Up 1.3 %

Shares of SNX opened at $100.54 on Tuesday. The company has a market capitalization of $9.61 billion, a PE ratio of 17.61, a PEG ratio of 0.95 and a beta of 1.57. TD SYNNEX Co. has a 12 month low of $78.86 and a 12 month high of $119.30. The stock’s 50-day moving average price is $89.29 and its two-hundred day moving average price is $94.98. The company has a current ratio of 1.25, a quick ratio of 0.64 and a debt-to-equity ratio of 0.50.

TD SYNNEX (NYSE:SNXGet Rating) last announced its earnings results on Tuesday, September 27th. The business services provider reported $2.74 EPS for the quarter, topping the consensus estimate of $2.73 by $0.01. The firm had revenue of $15.36 billion for the quarter, compared to the consensus estimate of $15.04 billion. TD SYNNEX had a return on equity of 13.47% and a net margin of 0.89%. The business’s quarterly revenue was up 194.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 EPS. On average, analysts anticipate that TD SYNNEX Co. will post 11.17 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Friday, October 14th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.19%. The ex-dividend date was Thursday, October 13th. TD SYNNEX’s payout ratio is presently 21.02%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barrington Research reduced their target price on TD SYNNEX from $106.00 to $98.00 in a report on Wednesday, September 28th. StockNews.com assumed coverage on TD SYNNEX in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Cfra reduced their target price on TD SYNNEX from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, September 27th. Credit Suisse Group reduced their target price on TD SYNNEX from $110.00 to $103.00 and set a “neutral” rating on the stock in a report on Tuesday, September 27th. Finally, Royal Bank of Canada assumed coverage on TD SYNNEX in a report on Tuesday, October 4th. They issued a “sector perform” rating and a $95.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong 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 $125.45.

About TD SYNNEX

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TD SYNNEX Corporation provides business process services in the United States and internationally. The company distributes PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, consumer electronics, information technology (IT) systems including data center server and storage solutions, system components, software, networking, communications and security equipment, consumer electronics, and complementary products.

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Institutional Ownership by Quarter for TD SYNNEX (NYSE:SNX)

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