Treasurer of the State of North Carolina Acquires 240 Shares of TD SYNNEX Co. (NYSE:SNX)

Posted by on May 20th, 2023

Treasurer of the State of North Carolina lifted its holdings in TD SYNNEX Co. (NYSE:SNX – Get Rating) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,503 shares of the business services provider’s stock after purchasing an additional 240 shares during the period. Treasurer of the State of North Carolina’s holdings in TD SYNNEX were worth $1,752,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SNX. BlackRock Inc. increased its stake in shares of TD SYNNEX by 6.0% in the third quarter. BlackRock Inc. now owns 3,732,192 shares of the business services provider’s stock worth $303,018,000 after purchasing an additional 211,608 shares during the period. GMT Capital Corp increased its stake in TD SYNNEX by 78.8% during the fourth quarter. GMT Capital Corp now owns 420,800 shares of the business services provider’s stock valued at $39,854,000 after acquiring an additional 185,400 shares during the period. Charles Schwab Investment Management Inc. increased its stake in TD SYNNEX by 38.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 483,464 shares of the business services provider’s stock valued at $49,899,000 after acquiring an additional 133,469 shares during the period. Vanguard Group Inc. increased its stake in TD SYNNEX by 2.0% during the third quarter. Vanguard Group Inc. now owns 4,215,710 shares of the business services provider’s stock valued at $342,274,000 after acquiring an additional 84,548 shares during the period. Finally, Bank of America Corp DE increased its stake in TD SYNNEX by 58.0% during the first quarter. Bank of America Corp DE now owns 184,551 shares of the business services provider’s stock valued at $19,048,000 after acquiring an additional 67,782 shares during the period. 84.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SNX has been the topic of several research reports. Stifel Nicolaus lowered their price target on TD SYNNEX from $120.00 to $110.00 in a research note on Tuesday, March 28th. Raymond James lowered their price target on TD SYNNEX from $140.00 to $130.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 29th. Barclays lowered their price target on TD SYNNEX from $109.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 29th. TheStreet raised TD SYNNEX from a “c+” rating to a “b-” rating in a report on Friday, April 14th. Finally, The Goldman Sachs Group started coverage on TD SYNNEX in a report on Monday, May 1st. They set a “buy” rating and a $101.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $113.91.

Insiders Place Their Bets

In other TD SYNNEX news, insider Dennis Polk sold 8,000 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $97.13, for a total transaction of $777,040.00. Following the transaction, the insider now owns 132,402 shares of the company’s stock, valued at approximately $12,860,206.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other TD SYNNEX news, insider Dennis Polk sold 8,000 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $97.13, for a total transaction of $777,040.00. Following the completion of the sale, the insider now owns 132,402 shares in the company, valued at approximately $12,860,206.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marshall Witt sold 603 shares of the company’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $92.81, for a total transaction of $55,964.43. Following the sale, the chief financial officer now owns 53,304 shares of the company’s stock, valued at approximately $4,947,144.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,998 shares of company stock valued at $3,439,588. 1.70% of the stock is currently owned by corporate insiders.

TD SYNNEX Stock Down 1.4 %

Shares of SNX opened at $89.84 on Friday. The company has a market capitalization of $8.48 billion, a P/E ratio of 12.55, a PEG ratio of 0.94 and a beta of 1.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.73. TD SYNNEX Co. has a one year low of $78.86 and a one year high of $111.57. The business’s 50 day simple moving average is $91.05 and its 200-day simple moving average is $96.70.

TD SYNNEX (NYSE:SNX – Get Rating) last announced its earnings results on Tuesday, March 28th. The business services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.74 by $0.08. TD SYNNEX had a return on equity of 13.80% and a net margin of 1.11%. The business had revenue of $15.13 billion for the quarter, compared to the consensus estimate of $15.74 billion. As a group, sell-side analysts predict that TD SYNNEX Co. will post 10.96 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, April 14th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, April 13th. TD SYNNEX’s dividend payout ratio is 19.55%.

About TD SYNNEX

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

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