Proficio Capital Partners LLC Buys New Position in TD SYNNEX Co. (NYSE:SNX)

Proficio Capital Partners LLC bought a new stake in TD SYNNEX Co. (NYSE:SNX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 43,980 shares of the business services provider’s stock, valued at approximately $5,158,000. Proficio Capital Partners LLC owned 0.05% of TD SYNNEX as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC lifted its position in TD SYNNEX by 345.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares during the period. UMB Bank n.a. lifted its position in TD SYNNEX by 48.4% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after acquiring an additional 140 shares during the period. Point72 DIFC Ltd acquired a new stake in TD SYNNEX during the 3rd quarter worth approximately $55,000. Blue Trust Inc. lifted its position in TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after acquiring an additional 129 shares during the period. Finally, Global Retirement Partners LLC lifted its position in TD SYNNEX by 31.9% during the 4th 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. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This represents a 15.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann F. Vezina sold 839 shares of the 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,172 shares of company stock worth $6,342,766. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

TD SYNNEX Stock Up 1.6 %

Shares of TD SYNNEX stock opened at $127.21 on Monday. 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 business’s 50 day simple moving average is $136.81 and its 200-day simple moving average is $125.11. The stock has a market capitalization of $10.73 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.06 and a beta of 1.51. 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 declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.38%. 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 is presently 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.