Teacher Retirement System of Texas Increases Holdings in TD SYNNEX Co. (NYSE:SNX)

Teacher Retirement System of Texas increased its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 108.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93,433 shares of the business services provider’s stock after purchasing an additional 48,667 shares during the period. Teacher Retirement System of Texas owned 0.11% of TD SYNNEX worth $10,958,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in TD SYNNEX during the 4th quarter worth $5,158,000. Pathstone Holdings LLC lifted its holdings in TD SYNNEX by 45.2% in the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after buying an additional 5,698 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after buying an additional 813,634 shares in the last quarter. IFP Advisors Inc lifted its holdings in TD SYNNEX by 976.6% in the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider’s stock worth $119,000 after buying an additional 918 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in TD SYNNEX in the 4th quarter worth $2,260,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the sale, the director now owns 111,080 shares in the company, valued at $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the sale, the chief executive officer now owns 165,604 shares in the company, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock worth $6,353,261 over the last quarter. 1.00% of the stock is owned by company insiders.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $127.77 on Friday. The firm has a market cap of $10.78 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The firm’s 50-day simple moving average is $137.36 and its 200-day simple moving average is $125.40. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX Co. has a 1 year low of $104.93 and a 1 year high of $145.10.

TD SYNNEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were paid a dividend of $0.44 per share. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. This represents a $1.76 annualized dividend and a yield of 1.38%. TD SYNNEX’s dividend payout ratio is 22.11%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Barrington Research boosted their price objective on shares of TD SYNNEX from $138.00 to $156.00 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank of Canada boosted their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Barclays boosted their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and upped their target price for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.75.

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.