Mutual of America Capital Management LLC Grows Holdings in TD SYNNEX Co. (NYSE:SNX)

Mutual of America Capital Management LLC boosted its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 30.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 44,496 shares of the business services provider’s stock after purchasing an additional 10,508 shares during the period. Mutual of America Capital Management LLC’s holdings in TD SYNNEX were worth $5,135,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its holdings in shares of TD SYNNEX by 121.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after buying an additional 140 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of TD SYNNEX in the first quarter valued at approximately $32,000. Pineridge Advisors LLC purchased a new stake in shares of TD SYNNEX during the fourth quarter worth approximately $33,000. Blue Trust Inc. lifted its holdings in shares of TD SYNNEX by 52.3% during the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after purchasing an additional 123 shares during the period. Finally, GAMMA Investing LLC grew its position in TD SYNNEX by 217.5% in the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock valued at $52,000 after buying an additional 311 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $118.03 on Friday. The firm’s 50-day moving average is $116.04 and its two-hundred day moving average is $117.47. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78. The stock has a market capitalization of $10.09 billion, a P/E ratio of 16.53, a P/E/G ratio of 1.13 and a beta of 1.49. TD SYNNEX Co. has a 12-month low of $89.73 and a 12-month high of $133.85.

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

TD SYNNEX Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a yield of 1.36%. TD SYNNEX’s payout ratio is 22.41%.

Insiders Place Their Bets

In other news, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the sale, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred 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 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 available at this link. Also, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the sale, the chief financial officer now owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The disclosure for this sale can be found here. Insiders have sold a total of 35,188 shares of company stock valued at $3,998,655 over the last quarter. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on SNX shares. Bank of America reduced their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. UBS Group lifted their price objective on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. JPMorgan Chase & Co. reduced their price target on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company 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 report on Wednesday, June 26th. Finally, Royal Bank of Canada raised TD SYNNEX from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $135.00 to $140.00 in a report on Monday, July 15th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $128.25.

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.