Blue Trust Inc. Boosts Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Blue Trust Inc. lifted its stake in TD SYNNEX Co. (NYSE:SNX) by 119.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 749 shares of the business services provider’s stock after purchasing an additional 407 shares during the period. Blue Trust Inc.’s holdings in TD SYNNEX were worth $90,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bartlett & CO. Wealth Management LLC boosted its stake in shares of TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the period. V Square Quantitative Management LLC acquired a new stake in TD SYNNEX in the third quarter valued at approximately $30,000. UMB Bank n.a. lifted its stake in TD SYNNEX by 99.3% in the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after acquiring an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in TD SYNNEX during the 3rd quarter worth approximately $37,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of TD SYNNEX in the 3rd quarter valued at approximately $55,000. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $142.78 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $128.51 and a 200-day simple moving average of $121.44. The company has a market cap of $12.09 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.06 and a beta of 1.48. TD SYNNEX Co. has a 12-month low of $98.70 and a 12-month high of $144.27.

TD SYNNEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.11%.

Insider Activity at TD SYNNEX

In related news, Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the transaction, the director now directly owns 4,856 shares of the company’s stock, valued at $660,804.48. This trade represents a 14.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the sale, the chief financial officer now owns 48,362 shares in the company, valued at approximately $5,858,089.06. The trade was a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,289 shares of company stock worth $3,639,500 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research report on Wednesday, January 15th. JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price objective for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Barclays increased their target price 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. Finally, StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.38.

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.