Amundi Increases Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Amundi increased its holdings in TD SYNNEX Co. (NYSE:SNX) by 22.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 560 shares of the business services provider’s stock after purchasing an additional 102 shares during the period. Amundi’s holdings in TD SYNNEX were worth $66,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bartlett & CO. Wealth Management LLC grew its position in shares of TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the period. UMB Bank n.a. grew its position in TD SYNNEX by 48.4% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 140 shares during the period. Point72 DIFC Ltd purchased a new stake in TD SYNNEX during the third quarter valued at about $55,000. Blue Trust Inc. grew its position in TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 129 shares during the period. Finally, Global Retirement Partners LLC grew its position in TD SYNNEX by 31.9% during the fourth 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 period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the company’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 sale, the director now owns 111,080 shares in the company, valued at $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the sale, the chief financial officer now owns 49,843 shares in the company, valued at $6,383,891.44. The trade was a 2.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,172 shares of company stock worth $6,353,261. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price target for the company from $122.00 to $147.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. boosted 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. Barrington Research upped their target price on TD SYNNEX from $138.00 to $156.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays upped 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. Finally, StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Two investment analysts have rated the stock with a hold rating and seven have given 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 $149.75.

TD SYNNEX Trading Down 1.4 %

NYSE:SNX opened at $127.77 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 one year low of $104.93 and a one year high of $145.10. The business’s 50-day simple moving average is $137.36 and its 200 day simple moving average is $125.40. The stock has a market cap of $10.78 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51.

TD SYNNEX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were paid a $0.44 dividend. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. This represents a $1.76 annualized dividend and a dividend yield of 1.38%. TD SYNNEX’s payout ratio is 22.11%.

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.