Strs Ohio Sells 674 Shares of TD SYNNEX Co. (NYSE:SNX)

Strs Ohio lessened its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,802 shares of the business services provider’s stock after selling 674 shares during the period. Strs Ohio’s holdings in TD SYNNEX were worth $2,238,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. boosted its stake in TD SYNNEX by 95.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 410 shares of the business services provider’s stock valued at $40,000 after buying an additional 200 shares during the last quarter. Advisors Asset Management Inc. bought a new position in shares of TD SYNNEX during the 1st quarter valued at approximately $51,000. Covestor Ltd grew its holdings in shares of TD SYNNEX by 91.5% in the first quarter. Covestor Ltd now owns 697 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 333 shares in the last quarter. Gladius Capital Management LP increased its position in TD SYNNEX by 50.8% in the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock worth $74,000 after purchasing an additional 250 shares during the last quarter. Finally, Signaturefd LLC raised its stake in TD SYNNEX by 28.9% during the third quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock valued at $95,000 after purchasing an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Activity

In related news, insider Michael Urban sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $105.00, for a total transaction of $525,000.00. Following the sale, the insider now owns 26,386 shares of the company’s stock, valued at $2,770,530. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Michael Urban sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $105.00, for a total transaction of $525,000.00. Following the completion of the transaction, the insider now owns 26,386 shares in the company, valued at approximately $2,770,530. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,355 shares of company stock worth $4,408,685. 1.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SNX has been the subject of a number of recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $118.00 price objective (up from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. UBS Group upgraded TD SYNNEX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $115.00 to $145.00 in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Barrington Research increased their price target on TD SYNNEX from $122.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Finally, Cfra lifted their price objective on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research note on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.82.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $113.34 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average price is $107.55 and its 200-day moving average price is $102.62. The firm has a market cap of $10.10 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.07 and a beta of 1.64. TD SYNNEX Co. has a 12 month low of $86.30 and a 12 month high of $119.87.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $14.37 billion. On average, equities research analysts expect that TD SYNNEX Co. will post 11.38 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.60 annualized dividend and a yield of 1.41%. TD SYNNEX’s dividend payout ratio (DPR) is presently 23.22%.

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.