Global Retirement Partners LLC Raises Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Global Retirement Partners LLC raised its position in TD SYNNEX Co. (NYSE:SNX) by 31.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 480 shares of the business services provider’s stock after purchasing an additional 116 shares during the period. Global Retirement Partners LLC’s holdings in TD SYNNEX were worth $56,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNX. CIBC Asset Management Inc grew its holdings in TD SYNNEX by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock worth $313,000 after acquiring an additional 86 shares during the period. Atria Investments Inc grew its holdings in TD SYNNEX by 4.1% during the third quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock worth $344,000 after acquiring an additional 112 shares during the period. Highland Capital Management LLC grew its holdings in TD SYNNEX by 6.5% during the fourth quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider’s stock worth $223,000 after acquiring an additional 116 shares during the period. Meixler Investment Management Ltd. grew its holdings in TD SYNNEX by 2.0% during the fourth quarter. Meixler Investment Management Ltd. now owns 5,932 shares of the business services provider’s stock worth $696,000 after acquiring an additional 118 shares during the period. Finally, Blue Trust Inc. grew its holdings in TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after acquiring an additional 129 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 stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the transaction, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the transaction, the chief financial officer now owns 48,362 shares in the company, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,289 shares of company stock worth $3,639,500. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Barclays upped 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 lowered TD SYNNEX from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada upped their target price on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Finally, Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and upped their target price for the company from $122.00 to $147.00 in a report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.50.

TD SYNNEX Stock Down 0.3 %

SNX opened at $137.49 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The firm has a market cap of $11.60 billion, a P/E ratio of 17.27, a PEG ratio of 1.06 and a beta of 1.49. TD SYNNEX Co. has a 52 week low of $102.23 and a 52 week high of $145.10. The business’s fifty day simple moving average is $134.56 and its 200 day simple moving average is $124.28.

TD SYNNEX Increases Dividend

The business also recently disclosed 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 was Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.28%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

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.