Teachers Retirement System of The State of Kentucky Sells 1,180 Shares of TD SYNNEX Co. (NYSE:SNX)

Teachers Retirement System of The State of Kentucky lessened its holdings in TD SYNNEX Co. (NYSE:SNX) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,414 shares of the business services provider’s stock after selling 1,180 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in TD SYNNEX were worth $3,052,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. M&T Bank Corp boosted its position in shares of TD SYNNEX by 13.5% during the 3rd quarter. M&T Bank Corp now owns 2,188 shares of the business services provider’s stock valued at $263,000 after acquiring an additional 261 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in TD SYNNEX by 109.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 11,003 shares of the business services provider’s stock valued at $1,321,000 after purchasing an additional 5,761 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of TD SYNNEX in the 3rd quarter valued at approximately $219,000. iSAM Funds UK Ltd acquired a new position in shares of TD SYNNEX in the 3rd quarter worth approximately $500,000. Finally, iA Global Asset Management Inc. bought a new position in shares of TD SYNNEX during the 3rd quarter worth approximately $9,695,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Buying and Selling

In other news, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the completion of the transaction, the director now directly owns 171,080 shares in the company, valued at approximately $20,652,777.60. The trade was a 10.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,645 shares of company stock valued at $8,415,189 over the last ninety days. Insiders own 1.90% of the company’s stock.

TD SYNNEX Price Performance

SNX opened at $123.24 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The company’s 50 day simple moving average is $120.25 and its 200-day simple moving average is $119.25. TD SYNNEX Co. has a one year low of $98.70 and a one year high of $133.85. The stock has a market capitalization of $10.49 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 1.14 and a beta of 1.47.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The company had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. During the same period last year, the firm earned $2.71 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio is 20.70%.

Analysts Set New Price Targets

A number of analysts have weighed in on SNX shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. Loop Capital reaffirmed a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a report on Monday, October 7th. Barclays increased their target price on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a report on Monday, September 23rd. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.75.

TD SYNNEX 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.