New Mexico Educational Retirement Board Acquires 4,700 Shares of TD SYNNEX Co. (NYSE:SNX)

New Mexico Educational Retirement Board increased its holdings in TD SYNNEX Co. (NYSE:SNX) by 44.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,202 shares of the business services provider’s stock after buying an additional 4,700 shares during the quarter. New Mexico Educational Retirement Board’s holdings in TD SYNNEX were worth $1,754,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Nordea Investment Management AB boosted its stake in shares of TD SYNNEX by 38.5% during the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock worth $172,081,000 after acquiring an additional 421,908 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in TD SYNNEX by 63.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 164,999 shares of the business services provider’s stock valued at $17,756,000 after purchasing an additional 64,024 shares in the last quarter. Norges Bank bought a new stake in TD SYNNEX during the fourth quarter valued at about $79,506,000. Principal Financial Group Inc. increased its position in TD SYNNEX by 1.9% in the fourth quarter. Principal Financial Group Inc. now owns 733,239 shares of the business services provider’s stock worth $78,904,000 after buying an additional 13,730 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of TD SYNNEX in the first quarter worth about $57,981,000. 84.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at TD SYNNEX

In other news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the sale, the insider now directly owns 134,706 shares in the company, valued at approximately $15,580,095.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the transaction, the insider now owns 134,706 shares in the company, valued at approximately $15,580,095.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Marshall Witt sold 11,441 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the sale, the chief financial officer now owns 45,115 shares in the company, valued at approximately $4,968,966.10. The disclosure for this sale can be found here. Insiders sold 35,188 shares of company stock worth $3,998,655 over the last 90 days. 1.90% of the stock is owned by insiders.

TD SYNNEX Trading Down 2.1 %

Shares of TD SYNNEX stock opened at $110.97 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.15 and a beta of 1.49. TD SYNNEX Co. has a twelve month low of $89.73 and a twelve month high of $133.85. The business has a 50-day moving average price of $115.71 and a 200-day moving average price of $116.73.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.66 by ($0.05). The firm had revenue of $13.95 billion for the quarter, compared to analysts’ expectations of $14.12 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. Equities research analysts anticipate that TD SYNNEX Co. will post 11.22 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Friday, July 12th. TD SYNNEX’s payout ratio is 22.41%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SNX shares. Bank of America cut their price objective on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Royal Bank of Canada raised shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $135.00 to $140.00 in a research note on Monday, July 15th. JPMorgan Chase & Co. lowered their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Barrington Research reiterated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Wednesday, June 26th. Finally, UBS Group boosted their price objective on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $127.33.

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.