Moran Wealth Management LLC Grows Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Moran Wealth Management LLC grew its holdings in TD SYNNEX Co. (NYSE:SNX) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,954 shares of the business services provider’s stock after purchasing an additional 2,393 shares during the quarter. Moran Wealth Management LLC’s holdings in TD SYNNEX were worth $4,451,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SNX. FMR LLC raised its position in shares of TD SYNNEX by 18.4% during the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after buying an additional 1,154,651 shares during the period. Ninety One UK Ltd raised its position in shares of TD SYNNEX by 75.4% during the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after buying an additional 1,016,251 shares during the period. JPMorgan Chase & Co. raised its position in shares of TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after buying an additional 813,634 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of TD SYNNEX during the 4th quarter valued at approximately $47,094,000. Finally, Thrivent Financial for Lutherans raised its position in TD SYNNEX by 560.0% in the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock valued at $44,639,000 after purchasing an additional 315,424 shares during the period. 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 on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the sale, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction 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 completion of the sale, 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. Over the last quarter, insiders sold 49,172 shares of company stock worth $6,342,766. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

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

TD SYNNEX Stock Performance

Shares of SNX stock opened at $126.16 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $136.03 and a 200 day moving average price of $124.97. The company has a market cap of $10.64 billion, a P/E ratio of 15.85, a PEG ratio of 1.06 and a beta of 1.51. TD SYNNEX Co. has a 12 month low of $102.23 and a 12 month high of $145.10.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.40%. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s payout ratio is presently 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.