CX Institutional Acquires 515 Shares of TD SYNNEX Co. (NYSE:SNX)

CX Institutional raised its stake in TD SYNNEX Co. (NYSE:SNX) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,859 shares of the business services provider’s stock after buying an additional 515 shares during the period. CX Institutional’s holdings in TD SYNNEX were worth $1,391,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Pathstone Holdings LLC increased its holdings in 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. JPMorgan Chase & Co. increased its stake in shares of TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after buying an additional 813,634 shares during the period. The Manufacturers Life Insurance Company raised its holdings in TD SYNNEX by 20.7% in the 2nd 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. Stratos Investment Management LLC boosted its position in TD SYNNEX by 5.6% during the 3rd quarter. Stratos Investment Management LLC now owns 28,115 shares of the business services provider’s stock worth $3,376,000 after buying an additional 1,486 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in TD SYNNEX by 170.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 81,714 shares of the business services provider’s stock valued at $9,812,000 after acquiring an additional 51,465 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the transaction, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. The trade was a 21.12 % 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 business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the transaction, the chief financial officer now directly owns 48,362 shares in the company, 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 90 days, insiders sold 28,715 shares of company stock valued at $3,433,500. 1.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SNX shares. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Loop Capital reaffirmed a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and increased their target price for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a report on Wednesday, January 15th. Finally, Barclays upped 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 note on Monday, January 13th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.38.

TD SYNNEX Stock Down 0.6 %

TD SYNNEX stock opened at $142.34 on Friday. The company has a market capitalization of $12.11 billion, a PE ratio of 17.88, a PEG ratio of 1.05 and a beta of 1.46. The firm’s fifty day moving average is $123.83 and its 200 day moving average is $119.58. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 12-month low of $98.70 and a 12-month high of $143.77.

TD SYNNEX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be issued a $0.44 dividend. The ex-dividend date is Friday, January 24th. This represents a $1.76 annualized dividend and a yield of 1.24%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio is presently 20.10%.

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.