TD SYNNEX Corporation $SNX Stock Holdings Trimmed by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its holdings in shares of TD SYNNEX Corporation (NYSE:SNX) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,000 shares of the business services provider’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in TD SYNNEX were worth $2,850,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. LGT Fund Management Co Ltd. raised its stake in shares of TD SYNNEX by 75.7% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 42,169 shares of the business services provider’s stock worth $5,722,000 after buying an additional 18,169 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of TD SYNNEX in the 2nd quarter worth $129,000. Ascent Group LLC bought a new stake in shares of TD SYNNEX in the 2nd quarter worth $221,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of TD SYNNEX in the 2nd quarter worth $92,000. Finally, Metropolis Capital Ltd bought a new stake in shares of TD SYNNEX in the 2nd quarter worth $115,168,000. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $156.60 on Friday. TD SYNNEX Corporation has a 1-year low of $92.23 and a 1-year high of $167.76. The company has a current ratio of 1.20, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $12.75 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 1.24 and a beta of 1.43. The stock’s fifty day simple moving average is $151.15 and its 200-day simple moving average is $132.75.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, October 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. TD SYNNEX’s payout ratio is currently 19.09%.

Insider Activity

In other news, insider Alim Dhanji sold 1,257 shares of TD SYNNEX stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $142.41, for a total transaction of $179,009.37. Following the transaction, the insider owned 10,984 shares in the company, valued at approximately $1,564,231.44. The trade was a 10.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Marshall Witt sold 861 shares of TD SYNNEX stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $149.84, for a total value of $129,012.24. Following the transaction, the chief financial officer owned 49,777 shares in the company, valued at $7,458,585.68. This represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,930 shares of company stock worth $430,163. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on SNX. JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $143.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Barclays boosted their price objective on TD SYNNEX from $140.00 to $164.00 and gave the stock an “equal weight” rating in a research note on Friday, September 26th. Zacks Research raised TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Barrington Research lifted their target price on TD SYNNEX from $156.00 to $182.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Finally, The Goldman Sachs Group lifted their target price on TD SYNNEX from $145.00 to $164.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $169.55.

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.