Retirement Systems of Alabama Acquires 4,540 Shares of TD SYNNEX Co. (NYSE:SNX)

Retirement Systems of Alabama grew its holdings in TD SYNNEX Co. (NYSE:SNX) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,242 shares of the business services provider’s stock after acquiring an additional 4,540 shares during the period. Retirement Systems of Alabama owned 0.07% of TD SYNNEX worth $6,913,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Diversified Trust Co increased its position in TD SYNNEX by 15.9% during the fourth quarter. Diversified Trust Co now owns 2,989 shares of the business services provider’s stock worth $322,000 after buying an additional 409 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in TD SYNNEX by 9.0% in the 4th quarter. Raymond James Trust N.A. now owns 3,613 shares of the business services provider’s stock worth $389,000 after purchasing an additional 297 shares during the last quarter. New York State Common Retirement Fund boosted its position in TD SYNNEX by 8.5% during the fourth quarter. New York State Common Retirement Fund now owns 140,371 shares of the business services provider’s stock worth $15,105,000 after purchasing an additional 10,947 shares during the period. Schwartz Investment Counsel Inc. raised its position in shares of TD SYNNEX by 10.8% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 102,500 shares of the business services provider’s stock valued at $11,030,000 after purchasing an additional 10,000 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of TD SYNNEX by 28.9% in the third quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock worth $95,000 after buying an additional 214 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Stock Up 1.0 %

SNX opened at $117.61 on Friday. TD SYNNEX Co. has a fifty-two week low of $86.30 and a fifty-two week high of $119.87. The company has a market capitalization of $10.48 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.10 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75. The firm’s fifty day moving average price is $110.67 and its two-hundred day moving average price is $104.01.

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

TD SYNNEX Dividend Announcement

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

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction 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 completion of the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,908,778.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX 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 transaction, the chief executive officer now directly owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The disclosure for this sale can be found here. Insiders have sold a total of 40,000 shares of company stock valued at $4,575,600 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SNX has been the topic of several recent analyst reports. Barrington Research lifted their target price on shares of TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Royal Bank of Canada restated a “sector perform” rating and set a $118.00 target price (up previously from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. JPMorgan Chase & Co. raised their target price on TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Bank of America increased their price objective on TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, Barclays boosted their target price on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.82.

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.