New York Life Investment Management LLC Decreases Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

New York Life Investment Management LLC reduced its position in TD SYNNEX Co. (NYSE:SNX) by 8.4% in the 4th quarter, Holdings Channel reports. The firm owned 7,964 shares of the business services provider’s stock after selling 733 shares during the quarter. New York Life Investment Management LLC’s holdings in TD SYNNEX were worth $934,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC raised its stake in TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. UMB Bank n.a. raised its stake in TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 140 shares during the last quarter. Point72 DIFC Ltd acquired a new position in TD SYNNEX in the 3rd quarter valued at $55,000. Blue Trust Inc. raised its stake in TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in TD SYNNEX by 31.9% in the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 116 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

NYSE SNX opened at $134.85 on Tuesday. The stock has a market cap of $11.38 billion, a PE ratio of 16.94, a P/E/G ratio of 1.06 and a beta of 1.49. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a twelve month low of $102.23 and a twelve month high of $145.10. The stock has a fifty day simple moving average of $134.90 and a 200-day simple moving average of $124.56.

TD SYNNEX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.31%. TD SYNNEX’s dividend payout ratio is currently 22.11%.

Analyst Ratings Changes

A number of analysts have issued reports on SNX shares. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and raised their target price for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. JPMorgan Chase & Co. raised their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Barclays raised their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada raised their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, TD SYNNEX presently has an average rating of “Moderate Buy” and a consensus target price of $147.50.

Insider Activity at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the transaction, the chief executive officer now owns 165,604 shares of the company’s stock, valued at $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,289 shares of company stock worth $3,639,500 in the last three months. 1.00% of the stock is owned by company insiders.

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.