IFP Advisors Inc Buys 918 Shares of TD SYNNEX Co. (NYSE:SNX)

IFP Advisors Inc raised its stake in TD SYNNEX Co. (NYSE:SNX) by 976.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,012 shares of the business services provider’s stock after buying an additional 918 shares during the period. IFP Advisors Inc’s holdings in TD SYNNEX were worth $119,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. FMR LLC increased its holdings in shares of TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after buying an additional 1,154,651 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after purchasing an additional 813,634 shares during the last quarter. Ninety One UK Ltd grew its holdings in shares of TD SYNNEX by 75.4% during the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after purchasing an additional 1,016,251 shares during the last quarter. State Street Corp grew its holdings in shares of 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 valued at $262,943,000 after purchasing an additional 15,995 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in shares of TD SYNNEX by 39.0% during the 3rd 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 during the last quarter. Institutional investors own 84.00% of the company’s stock.

Insider Transactions at TD SYNNEX

In related news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the transaction, the chief financial officer now directly owns 48,362 shares of the company’s stock, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction dated 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 transaction, the director now directly owns 65,480 shares of the company’s stock, valued at approximately $8,897,422.40. This trade represents a 23.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,172 shares of company stock valued at $6,342,766. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Royal Bank of Canada increased their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Barclays increased their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and increased their price target for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $147.50.

TD SYNNEX Trading Down 1.9 %

Shares of SNX opened at $132.39 on Wednesday. The stock has a market capitalization of $11.17 billion, a P/E ratio of 16.63, a PEG ratio of 1.06 and a beta of 1.49. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $135.16 and a two-hundred day simple moving average of $124.66. TD SYNNEX Co. has a twelve month low of $102.23 and a twelve month high of $145.10.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.33%. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. TD SYNNEX’s dividend payout ratio (DPR) is currently 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.