Proficio Capital Partners LLC Purchases Shares of 43,980 TD SYNNEX Co. (NYSE:SNX)

Proficio Capital Partners LLC purchased a new stake in shares of TD SYNNEX Co. (NYSE:SNX) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 43,980 shares of the business services provider’s stock, valued at approximately $5,158,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its position in shares of TD SYNNEX by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after acquiring an additional 86 shares during the last quarter. Atria Investments Inc lifted its position in shares of TD SYNNEX by 4.1% during the 3rd quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock valued at $344,000 after acquiring an additional 112 shares during the last quarter. Highland Capital Management LLC lifted its position in shares of TD SYNNEX by 6.5% during the 4th quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider’s stock valued at $223,000 after acquiring an additional 116 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of TD SYNNEX by 31.9% during the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 116 shares during the last quarter. Finally, Meixler Investment Management Ltd. lifted its position in shares of TD SYNNEX by 2.0% during the 4th quarter. Meixler Investment Management Ltd. now owns 5,932 shares of the business services provider’s stock valued at $696,000 after acquiring an additional 118 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SNX shares. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and increased their target price for the company from $122.00 to $147.00 in a report on Friday, January 10th. Barclays increased 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. Royal Bank of Canada increased 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, JPMorgan Chase & Co. increased their target price on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

Insiders Place Their Bets

In other news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the completion of the sale, the director now directly owns 65,480 shares in the company, valued at $8,897,422.40. This represents a 23.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,172 shares of company stock valued at $6,342,766. Company insiders own 1.00% of the company’s stock.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $127.21 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The firm has a market cap of $10.73 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.06 and a beta of 1.51. The firm has a 50 day simple moving average of $136.81 and a 200 day simple moving average of $125.11. TD SYNNEX Co. has a fifty-two week low of $102.23 and a fifty-two week high of $145.10.

TD SYNNEX Increases Dividend

The firm also recently announced 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 represents a $1.76 dividend on an annualized basis and a yield of 1.38%. 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 payout ratio is currently 22.11%.

TD SYNNEX Company 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.