Hilton Capital Management LLC Raises Stake in TD SYNNEX Co. (NYSE:SNX)

Hilton Capital Management LLC increased its position in shares of TD SYNNEX Co. (NYSE:SNX) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,999 shares of the business services provider’s stock after purchasing an additional 608 shares during the period. Hilton Capital Management LLC’s holdings in TD SYNNEX were worth $1,642,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Arizona State Retirement System raised its position in shares of TD SYNNEX by 0.4% during the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock worth $2,607,000 after acquiring an additional 78 shares in the last quarter. CIBC Asset Management Inc increased its stake in TD SYNNEX by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after purchasing an additional 86 shares during the last quarter. Amundi lifted its position in shares of TD SYNNEX by 22.3% during the 4th quarter. Amundi now owns 560 shares of the business services provider’s stock worth $66,000 after buying an additional 102 shares during the last quarter. Atria Investments Inc boosted its holdings in shares of TD SYNNEX by 4.1% in the 3rd quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock valued at $344,000 after buying an additional 112 shares in the last quarter. Finally, Highland Capital Management LLC grew its position in shares of TD SYNNEX by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider’s stock valued at $223,000 after buying an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling

In related news, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the sale, the chief executive officer now owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,172 shares of company stock valued at $6,342,766 over the last quarter. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SNX. Barclays boosted their price target 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. JPMorgan Chase & Co. upped their target price on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Finally, Royal Bank of Canada upped their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 21st. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $125.23 on Friday. TD SYNNEX Co. has a 52 week low of $102.23 and a 52 week high of $145.10. The company has a 50-day moving average price of $136.45 and a 200 day moving average price of $125.03. The company has a market cap of $10.57 billion, a P/E ratio of 15.73, a PEG ratio of 1.06 and a beta of 1.51. 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 firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were paid a $0.44 dividend. The ex-dividend date 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 dividend yield of 1.41%. 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.