KBC Group NV Grows Position in TD SYNNEX Co. (NYSE:SNX)

KBC Group NV lifted its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 52.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,988 shares of the business services provider’s stock after purchasing an additional 2,415 shares during the quarter. KBC Group NV’s holdings in TD SYNNEX were worth $820,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Pathstone Holdings LLC grew its holdings in shares of TD SYNNEX by 45.2% during the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after purchasing an additional 5,698 shares during the period. JPMorgan Chase & Co. boosted its holdings in 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 acquiring an additional 813,634 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in TD SYNNEX by 20.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 67,543 shares of the business services provider’s stock valued at $7,794,000 after acquiring an additional 11,589 shares during the period. Stratos Investment Management LLC boosted its holdings in TD SYNNEX by 5.6% during the 3rd quarter. Stratos Investment Management LLC now owns 28,115 shares of the business services provider’s stock valued at $3,376,000 after acquiring an additional 1,486 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in TD SYNNEX by 170.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 81,714 shares of the business services provider’s stock valued at $9,812,000 after acquiring an additional 51,465 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on SNX. Loop Capital restated a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a report on Monday, October 7th. Barclays raised their target price on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and raised their target price for the company from $122.00 to $147.00 in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. increased their price target on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.38.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $142.61 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX Co. has a fifty-two week low of $98.70 and a fifty-two week high of $144.18. The firm has a market capitalization of $12.07 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.05 and a beta of 1.46. The stock’s 50-day simple moving average is $126.35 and its 200-day simple moving average is $120.62.

TD SYNNEX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Friday, January 24th. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

Insider Transactions at TD SYNNEX

In related news, Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 4,856 shares in the company, valued at $660,804.48. This trade represents a 14.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the transaction, the insider now owns 23,339 shares in the company, valued at $2,874,664.63. This represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,715 shares of company stock valued at $3,433,500. Corporate insiders own 1.90% of the company’s stock.

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.