TD SYNNEX Co. (NYSE:SNX) Stock Position Decreased by Lind Value II ApS

Lind Value II ApS decreased its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 602,488 shares of the business services provider’s stock after selling 18,751 shares during the quarter. TD SYNNEX comprises about 31.4% of Lind Value II ApS’s investment portfolio, making the stock its 2nd biggest holding. Lind Value II ApS owned about 0.71% of TD SYNNEX worth $70,660,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Hancock Whitney Corp raised its holdings in TD SYNNEX by 57.9% in the 2nd quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock worth $1,954,000 after acquiring an additional 6,207 shares during the last quarter. Pathstone Holdings LLC increased its holdings in shares of 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 purchasing an additional 5,698 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of TD SYNNEX in the second quarter worth $1,634,000. The Manufacturers Life Insurance Company boosted its position in shares of TD SYNNEX by 20.7% during the second quarter. The Manufacturers Life Insurance Company now owns 67,543 shares of the business services provider’s stock valued at $7,794,000 after buying an additional 11,589 shares during the last quarter. Finally, JPMorgan Chase & Co. increased 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. 84.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SNX shares. Barrington Research reaffirmed an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays raised their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a report on Tuesday, January 7th. Finally, Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and lifted 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $144.38.

Insiders Place Their Bets

In other news, insider David R. Vetter sold 20,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $123.14, for a total transaction of $2,462,800.00. Following the transaction, the insider now directly owns 66,381 shares in the company, valued at approximately $8,174,156.34. This trade represents a 23.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the sale, the chief financial officer now owns 48,362 shares of the company’s stock, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,876 shares of company stock worth $5,782,129. 1.90% of the stock is currently owned by company insiders.

TD SYNNEX Price Performance

SNX stock opened at $135.98 on Wednesday. The stock has a market cap of $11.57 billion, a PE ratio of 17.59, a P/E/G ratio of 1.14 and a beta of 1.46. The company has a 50-day moving average price of $120.48 and a 200 day moving average price of $118.02. TD SYNNEX Co. has a 12 month low of $98.70 and a 12 month high of $136.07. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

TD SYNNEX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be issued a dividend of $0.44 per share. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, January 24th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

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.