Assenagon Asset Management S.A. Takes Position in TD SYNNEX Co. (NYSE:SNX)

Assenagon Asset Management S.A. acquired a new stake in TD SYNNEX Co. (NYSE:SNX) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 19,271 shares of the business services provider’s stock, valued at approximately $2,260,000.

Other large investors have also bought and sold shares of the company. FMR LLC increased its position in shares of TD SYNNEX by 18.4% during the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after acquiring an additional 1,154,651 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after purchasing an additional 813,634 shares during the period. State Street Corp increased its holdings in TD SYNNEX by 0.7% during the 3rd quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock worth $262,943,000 after purchasing an additional 15,995 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of TD SYNNEX by 21.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock valued at $178,421,000 after purchasing an additional 269,759 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of TD SYNNEX by 39.0% in the third quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider’s stock valued at $99,123,000 after purchasing an additional 231,715 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the sale, the insider now owns 23,339 shares of the company’s stock, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were 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 approximately $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,715 shares of company stock valued at $3,433,500 over the last 90 days. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SNX has been the subject of a number of research reports. JPMorgan Chase & Co. increased 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 raised their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research report on Wednesday, January 15th. Finally, Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price target for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.38.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $141.47 on Thursday. The company has a fifty day moving average price of $122.74 and a two-hundred day moving average price of $119.20. TD SYNNEX Co. has a one year low of $98.70 and a one year high of $142.13. The stock has a market cap of $12.04 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.02 and a beta of 1.46. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a yield of 1.24%. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.10%.

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.