Meixler Investment Management Ltd. Raises Stock Position in TD SYNNEX Co. (NYSE:SNX)

Meixler Investment Management Ltd. increased its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 2.0% in the 4th quarter, HoldingsChannel reports. The firm owned 5,932 shares of the business services provider’s stock after acquiring an additional 118 shares during the quarter. Meixler Investment Management Ltd.’s holdings in TD SYNNEX were worth $696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC grew its position in TD SYNNEX by 345.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the period. V Square Quantitative Management LLC acquired a new stake in TD SYNNEX during the third quarter valued at $30,000. UMB Bank n.a. grew its position in TD SYNNEX by 48.4% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after buying an additional 140 shares during the period. Point72 DIFC Ltd acquired a new stake in TD SYNNEX during the third quarter valued at $55,000. Finally, Blue Trust Inc. grew its position in TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after buying an additional 129 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Barclays lifted their target price 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, January 13th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday. Cfra upgraded shares of 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 report on Friday, January 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $144.38.

Insiders Place Their Bets

In other news, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the sale, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. The trade was a 3.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of the sale, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,289 shares of company stock valued at $3,639,500 over the last ninety days. Company insiders own 1.90% of the company’s stock.

TD SYNNEX Price Performance

Shares of SNX stock opened at $144.25 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The firm’s 50-day moving average is $130.53 and its two-hundred day moving average is $122.36. TD SYNNEX Co. has a 12 month low of $99.95 and a 12 month high of $144.48. The company has a market capitalization of $12.21 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.22%. TD SYNNEX’s payout ratio is 22.11%.

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.