Proficio Capital Partners LLC Purchases Shares of 43,980 TD SYNNEX Co. (NYSE:SNX)

Proficio Capital Partners LLC purchased a new stake in TD SYNNEX Co. (NYSE:SNX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,980 shares of the business services provider’s stock, valued at approximately $5,158,000.

A number of other hedge funds have also modified their holdings of SNX. Bartlett & CO. Wealth Management LLC grew its holdings in TD SYNNEX by 345.1% during the 4th 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 last quarter. UMB Bank n.a. lifted its position in shares of TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 140 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of TD SYNNEX during the third quarter valued at $55,000. Blue Trust Inc. increased its position in TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after purchasing an additional 129 shares in 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 hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX 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 transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ann F. Vezina sold 839 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the sale, the director now directly owns 4,856 shares of the company’s stock, valued at $660,804.48. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,289 shares of company stock valued at $3,639,500 in the last three months. Corporate insiders own 1.00% of the company’s stock.

TD SYNNEX Trading Down 1.9 %

SNX stock opened at $134.85 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The company has a market cap of $11.38 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.06 and a beta of 1.49. The business has a fifty day simple moving average of $134.90 and a 200-day simple moving average of $124.56. TD SYNNEX Co. has a 52 week low of $102.23 and a 52 week high of $145.10.

TD SYNNEX Increases Dividend

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

TD SYNNEX Company 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.