Public Employees Retirement System of Ohio Sells 2,782 Shares of TD SYNNEX Co. (NYSE:SNX)

Public Employees Retirement System of Ohio lowered its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 8.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,528 shares of the business services provider’s stock after selling 2,782 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in TD SYNNEX were worth $3,546,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SNX. Envestnet Portfolio Solutions Inc. acquired a new position in shares of TD SYNNEX during the second quarter valued at about $242,000. Blue Trust Inc. lifted its position in shares of TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after acquiring an additional 123 shares during the period. Pallas Capital Advisors LLC grew its holdings in shares of TD SYNNEX by 39.0% during the 2nd quarter. Pallas Capital Advisors LLC now owns 4,119 shares of the business services provider’s stock worth $483,000 after purchasing an additional 1,156 shares in the last quarter. Fifth Third Bancorp increased its position in shares of TD SYNNEX by 11.1% during the second quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock valued at $123,000 after purchasing an additional 106 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new position in TD SYNNEX in the second quarter worth $280,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Trading Down 1.0 %

Shares of SNX opened at $123.24 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The company has a market cap of $10.49 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.14 and a beta of 1.47. The stock has a fifty day moving average price of $120.25 and a two-hundred day moving average price of $119.19. TD SYNNEX Co. has a 52-week low of $98.70 and a 52-week high of $133.85.

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

TD SYNNEX Dividend Announcement

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

Insider Activity at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $120.72, for a total value of $2,414,400.00. Following the transaction, the director now owns 171,080 shares of the company’s stock, valued at approximately $20,652,777.60. This trade represents a 10.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann F. Vezina sold 1,937 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total transaction of $234,590.07. Following the sale, the director now directly owns 5,695 shares of the company’s stock, valued at approximately $689,721.45. This trade represents a 25.38 % 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 quarter. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

SNX has been the topic of several analyst reports. Barclays boosted their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a report on Friday, September 27th. Barrington Research reissued an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a report on Monday, September 23rd. Finally, Loop Capital reaffirmed a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a research note on Monday, October 7th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.