TD SYNNEX Co. (NYSE:SNX) Position Lifted by Vestcor Inc

Vestcor Inc raised its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 75.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,751 shares of the business services provider’s stock after acquiring an additional 2,897 shares during the quarter. Vestcor Inc’s holdings in TD SYNNEX were worth $792,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Pathstone Holdings LLC lifted its position in shares of TD SYNNEX by 45.2% in the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after buying an additional 5,698 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after buying an additional 813,634 shares during the last quarter. IFP Advisors Inc lifted its position in shares of TD SYNNEX by 976.6% in the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider’s stock worth $119,000 after buying an additional 918 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of TD SYNNEX in the 4th quarter worth about $2,260,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of TD SYNNEX by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider’s stock worth $59,512,000 after buying an additional 9,915 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Barclays lifted 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 report on Monday, January 13th. JPMorgan Chase & Co. lifted their price objective on shares of 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 downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price objective for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $147.50.

TD SYNNEX Stock Up 1.6 %

TD SYNNEX stock opened at $127.21 on Monday. The stock has a market cap of $10.73 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.06 and a beta of 1.51. 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 company’s 50-day moving average price is $136.81 and its two-hundred day moving average price is $125.11. TD SYNNEX Co. has a 52 week low of $102.23 and a 52 week high of $145.10.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were paid a dividend of $0.44 per share. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. This represents a $1.76 annualized dividend and a yield of 1.38%. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

Insider Buying and Selling at TD SYNNEX

In other news, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction that occurred 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 transaction, the chief executive officer now owns 165,604 shares of the company’s stock, valued at $23,681,372. The trade was a 3.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Friday, January 3rd. The stock was 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 in the company, valued at $13,065,229.60. This represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,172 shares of company stock valued at $6,342,766. Company insiders own 1.00% of the company’s stock.

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.