State Board of Administration of Florida Retirement System Trims Position in TD SYNNEX Co. (NYSE:SNX)

State Board of Administration of Florida Retirement System cut its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 26.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,997 shares of the business services provider's stock after selling 14,168 shares during the quarter. State Board of Administration of Florida Retirement System's holdings in TD SYNNEX were worth $4,524,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SNX. Benjamin F. Edwards & Company Inc. increased its position in TD SYNNEX by 121.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider's stock valued at $29,000 after acquiring an additional 140 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of TD SYNNEX during the first quarter valued at approximately $32,000. Pineridge Advisors LLC bought a new position in shares of TD SYNNEX during the fourth quarter valued at approximately $33,000. Daiwa Securities Group Inc. purchased a new stake in shares of TD SYNNEX in the first quarter worth approximately $68,000. Finally, Kapitalo Investimentos Ltda lifted its stake in shares of TD SYNNEX by 75.6% during the 4th quarter. Kapitalo Investimentos Ltda now owns 1,582 shares of the business services provider's stock worth $170,000 after acquiring an additional 681 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

Analyst Ratings Changes

SNX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on shares of TD SYNNEX from $126.00 to $123.00 and set a "neutral" rating on the stock in a report on Wednesday, June 26th. Bank of America dropped their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a "buy" rating on the stock in a research note on Thursday, June 27th. Cfra lifted their price target on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a "hold" rating in a research note on Tuesday, March 26th. Royal Bank of Canada upgraded TD SYNNEX from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $135.00 to $140.00 in a report on Monday, July 15th. Finally, Barrington Research reiterated an "outperform" rating and issued a $138.00 target price on shares of TD SYNNEX in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $127.33.

Insider Buying and Selling at TD SYNNEX

In other news, CEO Richard T. Hume sold 10,000 shares of the firm's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total value of $1,157,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,363 shares in the company, valued at $25,400,041.77. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the sale, the chief executive officer now owns 219,363 shares in the company, valued at $25,400,041.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Patrick Zammit sold 3,513 shares of the business's stock in a transaction on Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the transaction, the chief operating officer now owns 140,205 shares of the company's stock, valued at $15,882,422.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,513 shares of company stock worth $3,869,053. 1.90% of the stock is currently owned by insiders.

TD SYNNEX Stock Up 2.1 %

TD SYNNEX stock traded up $2.37 during midday trading on Monday, reaching $117.72. The company's stock had a trading volume of 561,875 shares, compared to its average volume of 900,249. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78. The stock has a market capitalization of $10.06 billion, a P/E ratio of 16.42, a PEG ratio of 1.14 and a beta of 1.52. The stock's 50-day simple moving average is $123.37 and its 200-day simple moving average is $113.44. TD SYNNEX Co. has a 52-week low of $89.73 and a 52-week high of $133.85.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings data on Tuesday, June 25th. The business services provider reported $2.61 EPS for the quarter, missing the consensus estimate of $2.66 by ($0.05). TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The company had revenue of $13.95 billion during the quarter, compared to analysts' expectations of $14.12 billion. On average, sell-side analysts expect that TD SYNNEX Co. will post 11.24 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a yield of 1.36%. TD SYNNEX's dividend payout ratio is currently 22.41%.

About TD SYNNEX

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.