Mirae Asset Global Investments Co. Ltd. Lowers Position in TD SYNNEX Co. (NYSE:SNX)

Mirae Asset Global Investments Co. Ltd. trimmed its position in TD SYNNEX Co. (NYSE:SNX) by 59.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 578 shares of the business services provider’s stock after selling 831 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in TD SYNNEX were worth $68,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after buying an additional 1,154,651 shares during the period. Ninety One UK Ltd grew its stake in shares of TD SYNNEX by 75.4% in the 4th 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 during the last quarter. JPMorgan Chase & Co. boosted its holdings in TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after acquiring an additional 813,634 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of 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 worth $44,639,000 after acquiring an additional 315,424 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of TD SYNNEX by 39.0% in the 3rd quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider’s stock worth $99,123,000 after purchasing an additional 231,715 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Up 1.9 %

SNX opened at $144.25 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 $99.95 and a fifty-two week high of $144.48. The firm’s fifty day moving average is $130.53 and its 200 day moving average is $122.33. The stock has a market cap of $12.17 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49.

TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were issued a dividend of $0.44 per share. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Friday, January 24th. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

Insider Activity

In other news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ann F. Vezina sold 839 shares of the company’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 value of $114,171.12. Following the sale, the director now directly owns 4,856 shares in the company, valued at $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,289 shares of company stock worth $3,639,500 over the last quarter. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and increased their price target for the company from $122.00 to $147.00 in a report on Friday, January 10th. Barclays raised their price target on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. upped their target price on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a report on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.38.

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.