Alaska Permanent Fund Corp Raises Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Alaska Permanent Fund Corp boosted its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 1.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 25,325 shares of the business services provider’s stock after purchasing an additional 315 shares during the period. Alaska Permanent Fund Corp’s holdings in TD SYNNEX were worth $2,864,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its stake in TD SYNNEX by 13.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 6,748 shares of the business services provider’s stock worth $674,000 after purchasing an additional 794 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in TD SYNNEX by 14.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 297,600 shares of the business services provider’s stock valued at $29,718,000 after purchasing an additional 36,815 shares during the period. Rhumbline Advisers boosted its holdings in TD SYNNEX by 3.6% in the third quarter. Rhumbline Advisers now owns 142,586 shares of the business services provider’s stock valued at $14,239,000 after purchasing an additional 5,000 shares during the period. Rafferty Asset Management LLC acquired a new stake in TD SYNNEX in the third quarter valued at $750,000. Finally, Invesco Ltd. raised its stake in TD SYNNEX by 22.0% in the third quarter. Invesco Ltd. now owns 345,202 shares of the business services provider’s stock valued at $34,472,000 after buying an additional 62,296 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Dennis Polk sold 20,000 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the sale, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the sale, the chief executive officer now owns 219,363 shares of the company’s stock, valued at $25,400,041.77. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

TD SYNNEX Stock Performance

SNX traded down $0.52 on Thursday, hitting $132.33. 155,202 shares of the company’s stock were exchanged, compared to its average volume of 858,796. The firm has a market cap of $11.79 billion, a PE ratio of 19.28, a P/E/G ratio of 1.29 and a beta of 1.55. TD SYNNEX Co. has a twelve month low of $87.68 and a twelve month high of $133.85. The stock has a fifty day moving average of $123.52 and a two-hundred day moving average of $111.57. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.12. The firm had revenue of $13.98 billion for the quarter, compared to analyst estimates of $14.37 billion. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. On average, research analysts anticipate that TD SYNNEX Co. will post 11.38 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Thursday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 23.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Bank of America raised their price target on TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Barrington Research boosted their price target on TD SYNNEX from $122.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. upped their price objective on TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Royal Bank of Canada upped their price objective on TD SYNNEX from $118.00 to $135.00 and gave the stock a “sector perform” rating in a report on Tuesday, June 11th. Finally, Cfra upped their price target on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research report on Tuesday, March 26th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.36.

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.