Texas Permanent School Fund decreased its stake in TD SYNNEX Co. (NYSE:SNX – Get Rating) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,264 shares of the business services provider’s stock after selling 2,069 shares during the period. Texas Permanent School Fund’s holdings in TD SYNNEX were worth $2,677,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC acquired a new position in TD SYNNEX during the third quarter worth about $31,000. Ronald Blue Trust Inc. raised its position in TD SYNNEX by 48.5% during the fourth quarter. Ronald Blue Trust Inc. now owns 438 shares of the business services provider’s stock worth $35,000 after acquiring an additional 143 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in TD SYNNEX during the first quarter worth about $51,000. Wipfli Financial Advisors LLC acquired a new position in TD SYNNEX during the third quarter worth about $45,000. Finally, Covestor Ltd raised its position in TD SYNNEX by 91.5% during the first quarter. Covestor Ltd now owns 697 shares of the business services provider’s stock worth $72,000 after acquiring an additional 333 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.
Insider Buying and Selling at TD SYNNEX
In other TD SYNNEX news, CFO Marshall Witt sold 1,082 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $101.70, for a total transaction of $110,039.40. Following the transaction, the chief financial officer now directly owns 53,907 shares of the company’s stock, valued at $5,482,341.90. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Marshall Witt sold 1,082 shares of the business’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $101.70, for a total transaction of $110,039.40. Following the transaction, the chief financial officer now directly owns 53,907 shares of the company’s stock, valued at $5,482,341.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dennis Polk sold 8,000 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $96.90, for a total transaction of $775,200.00. Following the transaction, the insider now directly owns 132,402 shares in the company, valued at $12,829,753.80. The disclosure for this sale can be found here. Insiders have sold a total of 38,080 shares of company stock valued at $3,549,627 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.
TD SYNNEX Price Performance
TD SYNNEX (NYSE:SNX – Get Rating) last announced its quarterly earnings results on Tuesday, March 28th. The business services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.74 by $0.08. The firm had revenue of $15.13 billion for the quarter, compared to analysts’ expectations of $15.74 billion. TD SYNNEX had a net margin of 1.11% and a return on equity of 13.80%. Sell-side analysts predict that TD SYNNEX Co. will post 10.96 earnings per share for the current year.
TD SYNNEX Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, April 14th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, April 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.59%. TD SYNNEX’s dividend payout ratio (DPR) is 19.55%.
Analysts Set New Price Targets
A number of brokerages have issued reports on SNX. Cfra restated a “hold” rating and set a $100.00 target price (down previously from $120.00) on shares of TD SYNNEX in a research report on Tuesday, March 28th. Barrington Research lowered their price target on shares of TD SYNNEX from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, April 3rd. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Tuesday, April 4th. Barclays lowered their price target on shares of TD SYNNEX from $109.00 to $103.00 and set an “equal weight” rating for the company in a report on Wednesday, March 29th. Finally, The Goldman Sachs Group began coverage on shares of TD SYNNEX in a report on Monday, May 1st. They set a “buy” rating and a $101.00 price target for the company. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, TD SYNNEX presently has an average rating of “Moderate Buy” and an average price target of $113.91.
About TD SYNNEX
TD SYNNEX Corp. engages in the distribution and aggregation of solutions in the information technology ecosystem. It operates through the following geographical segments: Americas, Europe, and Asia-Pacific and Japan. The firm offers IT hardware, software, and systems including personal computing devices and peripherals, mobile phones and accessories, printers, server and datacenter infrastructure, hybrid cloud, security, networking, communications and storage solutions, and system components.
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