TD SYNNEX Co. (NYSE:SNX) Shares Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC increased its position in shares of TD SYNNEX Co. (NYSE:SNX) by 30.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,496 shares of the business services provider’s stock after acquiring an additional 10,508 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of TD SYNNEX worth $5,135,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB grew its stake in shares of TD SYNNEX by 38.5% in the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock valued at $172,081,000 after buying an additional 421,908 shares during the period. Goldman Sachs Group Inc. grew its position in TD SYNNEX by 63.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 164,999 shares of the business services provider’s stock worth $17,756,000 after acquiring an additional 64,024 shares during the period. Norges Bank acquired a new stake in TD SYNNEX during the fourth quarter worth $79,506,000. Lord Abbett & CO. LLC purchased a new stake in TD SYNNEX in the first quarter valued at $57,981,000. Finally, Wedge Capital Management L L P NC grew its holdings in shares of TD SYNNEX by 20.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 31,146 shares of the business services provider’s stock worth $3,594,000 after purchasing an additional 5,252 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Barrington Research reaffirmed an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Wednesday, June 26th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Bank of America lowered their price target on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Finally, Royal Bank of Canada upgraded TD SYNNEX from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $135.00 to $140.00 in a report on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and an average target price of $128.25.

TD SYNNEX Stock Down 0.7 %

Shares of NYSE SNX opened at $118.03 on Friday. The stock has a market cap of $10.09 billion, a P/E ratio of 16.53, a PEG ratio of 1.13 and a beta of 1.49. The business’s fifty day simple moving average is $116.04 and its 200-day simple moving average is $117.47. TD SYNNEX Co. has a 12-month low of $89.73 and a 12-month high of $133.85. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Tuesday, June 25th. The business services provider reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.66 by ($0.05). The company had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $14.12 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. As a group, equities analysts predict that TD SYNNEX Co. will post 11.22 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.36%. The ex-dividend date was Friday, July 12th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

Insider Buying and Selling at TD SYNNEX

In other news, COO Patrick Zammit sold 3,513 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $113.28, for a total value of $397,952.64. Following the transaction, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the transaction, the insider now owns 134,706 shares in the company, valued at $15,580,095.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Patrick Zammit sold 3,513 shares of TD SYNNEX stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $113.28, for a total value of $397,952.64. Following the sale, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. The disclosure for this sale can be found here. Insiders have sold a total of 35,188 shares of company stock worth $3,998,655 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

About TD SYNNEX

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.