Securian Asset Management Inc. Has $671,000 Position in TD SYNNEX Co. (NYSE:SNX)

Securian Asset Management Inc. reduced its holdings in TD SYNNEX Co. (NYSE:SNX) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,724 shares of the business services provider’s stock after selling 190 shares during the quarter. Securian Asset Management Inc.’s holdings in TD SYNNEX were worth $671,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC grew its position in shares of TD SYNNEX by 18.4% in the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after purchasing an additional 1,154,651 shares during the last quarter. JPMorgan Chase & Co. grew its position in TD SYNNEX by 37.0% during the third 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 in the last quarter. Ninety One UK Ltd grew its position in TD SYNNEX by 75.4% during the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after buying an additional 1,016,251 shares in the last quarter. State Street Corp grew its position in TD SYNNEX by 0.7% during the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock worth $262,943,000 after buying an additional 15,995 shares in the last quarter. Finally, River Road Asset Management LLC grew its position in TD SYNNEX by 0.5% during the fourth quarter. River Road Asset Management LLC now owns 869,367 shares of the business services provider’s stock worth $101,959,000 after buying an additional 4,220 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

NYSE:SNX opened at $127.21 on Monday. TD SYNNEX Co. has a 1 year low of $102.23 and a 1 year high of $145.10. The firm has a 50 day moving average of $136.81 and a 200-day moving average of $125.11. 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 stock has a market capitalization of $10.73 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were paid a $0.44 dividend. 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 1.38%. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s payout ratio is 22.11%.

Insider Activity

In related news, CEO Patrick Zammit sold 6,823 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. The trade was a 3.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the business’s 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 owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,172 shares of company stock worth $6,342,766. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SNX shares. Barclays lifted their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. 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. Royal Bank of Canada lifted their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Cfra raised 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 report on Friday, January 10th. Finally, StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and an average target price of $147.50.

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.