SRS Capital Advisors Inc. Sells 561 Shares of TD SYNNEX Co. (NYSE:SNX)

SRS Capital Advisors Inc. lessened its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 57.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 422 shares of the business services provider’s stock after selling 561 shares during the quarter. SRS Capital Advisors Inc.’s holdings in TD SYNNEX were worth $49,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC raised its holdings in shares of 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 worth $27,000 after acquiring an additional 176 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after acquiring an additional 140 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of TD SYNNEX in the 3rd quarter worth about $55,000. Blue Trust Inc. raised its holdings in shares of TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after acquiring an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of TD SYNNEX by 31.9% in the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock worth $56,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

SNX has been the subject of several analyst reports. Royal Bank of Canada increased their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and increased their price objective for the company from $122.00 to $147.00 in a research note on Friday, January 10th. StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. increased their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Finally, Barclays increased 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. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

Insider Activity

In related news, Director Richard T. Hume sold 20,000 shares of the firm’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 value of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the completion of the transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at approximately $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 49,172 shares of company stock valued at $6,342,766 in the last three months. Company insiders own 1.00% of the company’s stock.

TD SYNNEX Stock Down 0.0 %

TD SYNNEX stock opened at $129.29 on Friday. TD SYNNEX Co. has a twelve month low of $102.23 and a twelve month high of $145.10. The firm has a 50 day moving average price of $135.62 and a 200-day moving average price of $124.75. The company has a market capitalization of $10.91 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.06 and a beta of 1.49. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were given 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 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, January 24th. TD SYNNEX’s dividend payout ratio is currently 22.11%.

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.