PNC Financial Services Group Inc. Has $543,000 Stock Position in TD SYNNEX Co. (NYSE:SNX)

PNC Financial Services Group Inc. lifted its stake in TD SYNNEX Co. (NYSE:SNX) by 11.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,627 shares of the business services provider’s stock after acquiring an additional 476 shares during the quarter. PNC Financial Services Group Inc.’s holdings in TD SYNNEX were worth $543,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arizona State Retirement System increased its position in TD SYNNEX by 0.4% during the fourth quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock worth $2,607,000 after buying an additional 78 shares during the last quarter. CIBC Asset Management Inc increased its position 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 buying an additional 86 shares during the last quarter. Atria Investments Inc boosted its holdings in shares of 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 boosted its holdings in shares of 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. Finally, Global Retirement Partners LLC boosted its holdings in shares of TD SYNNEX by 31.9% during the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock worth $56,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNX. Royal Bank of Canada boosted their price objective on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. JPMorgan Chase & Co. boosted 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 boosted their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Cfra upgraded 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 note on Friday, January 10th. Finally, StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Tuesday. Two research 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.50.

TD SYNNEX Stock Up 2.5 %

NYSE SNX opened at $132.13 on Thursday. The business has a fifty day moving average price of $137.34 and a two-hundred day moving average price of $125.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. TD SYNNEX Co. has a fifty-two week low of $102.77 and a fifty-two week high of $145.10. The stock has a market capitalization of $11.15 billion, a PE ratio of 16.60, a PEG ratio of 1.06 and a beta of 1.51.

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 paid a dividend of $0.44 per share. The ex-dividend date was Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.33%. TD SYNNEX’s dividend payout ratio is presently 22.11%.

Insiders Place Their Bets

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of the sale, the chief financial officer now directly owns 49,843 shares in the company, valued at $6,383,891.44. This represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of the company’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 transaction, the chief executive officer now owns 165,604 shares of the company’s stock, valued at $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,172 shares of company stock worth $6,353,261 over the last three months. Insiders own 1.00% of the company’s stock.

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.