EMC Capital Management Decreases Position in TD SYNNEX Co. (NYSE:SNX)

EMC Capital Management decreased its stake in TD SYNNEX Co. (NYSE:SNX) by 40.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,682 shares of the business services provider’s stock after selling 1,143 shares during the quarter. EMC Capital Management’s holdings in TD SYNNEX were worth $197,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SNX. Sei Investments Co. raised its position in TD SYNNEX by 208.5% in the 2nd quarter. Sei Investments Co. now owns 29,334 shares of the business services provider’s stock worth $3,385,000 after purchasing an additional 19,826 shares during the period. Bank of Montreal Can grew its stake in shares of TD SYNNEX by 173.8% during the second quarter. Bank of Montreal Can now owns 17,692 shares of the business services provider’s stock valued at $2,077,000 after buying an additional 11,230 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of TD SYNNEX by 20.7% in the second quarter. The Manufacturers Life Insurance Company now owns 67,543 shares of the business services provider’s stock worth $7,794,000 after buying an additional 11,589 shares during the period. Algert Global LLC lifted its stake in shares of TD SYNNEX by 319.8% during the 2nd quarter. Algert Global LLC now owns 10,159 shares of the business services provider’s stock worth $1,172,000 after acquiring an additional 7,739 shares during the last quarter. Finally, Creative Planning grew its position in TD SYNNEX by 21.3% in the 2nd quarter. Creative Planning now owns 8,614 shares of the business services provider’s stock valued at $994,000 after acquiring an additional 1,513 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

SNX has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price objective for the company from $122.00 to $147.00 in a research report on Friday, January 10th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Wednesday, January 15th. Finally, Barclays raised their price objective on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.38.

Insider Buying and Selling

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the sale, the director now owns 4,856 shares in the company, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the transaction, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,715 shares of company stock worth $3,433,500 in the last three months. Corporate insiders own 1.90% of the company’s stock.

TD SYNNEX Stock Up 0.3 %

TD SYNNEX stock opened at $141.76 on Friday. TD SYNNEX Co. has a 1-year low of $98.70 and a 1-year high of $143.98. The business has a fifty day moving average price of $125.88 and a 200-day moving average price of $120.41. 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 stock has a market capitalization of $12.00 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.05 and a beta of 1.46.

TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be given a $0.44 dividend. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, January 24th. TD SYNNEX’s dividend payout ratio (DPR) is presently 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.