TD SYNNEX Co. (NYSE:SNX) Stock Holdings Lessened by Metis Global Partners LLC

Metis Global Partners LLC cut its position in TD SYNNEX Co. (NYSE:SNX) by 11.3% during the 4th quarter, HoldingsChannel reports. The firm owned 2,481 shares of the business services provider’s stock after selling 316 shares during the quarter. Metis Global Partners LLC’s holdings in TD SYNNEX were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Pathstone Holdings LLC lifted its position in TD SYNNEX by 45.2% in the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock valued at $2,197,000 after purchasing an additional 5,698 shares during the last quarter. JPMorgan Chase & Co. lifted its position 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 valued at $361,707,000 after purchasing an additional 813,634 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in TD SYNNEX in the 4th quarter valued at about $2,260,000. iSAM Funds UK Ltd bought a new stake in TD SYNNEX in the 3rd quarter valued at about $500,000. Finally, Atom Investors LP lifted its position in TD SYNNEX by 50.3% in the 3rd quarter. Atom Investors LP now owns 43,777 shares of the business services provider’s stock valued at $5,257,000 after purchasing an additional 14,650 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Stock Performance

Shares of SNX opened at $129.17 on Friday. The firm’s 50 day moving average is $135.43 and its 200-day moving average is $124.72. The stock has a market capitalization of $10.90 billion, a P/E ratio of 16.23, a P/E/G ratio of 1.06 and a beta of 1.49. 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 12-month low of $102.23 and a 12-month high of $145.10.

TD SYNNEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 annualized dividend and a dividend yield of 1.36%. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s payout ratio is currently 22.11%.

Analysts Set New Price Targets

Several brokerages recently weighed in on SNX. 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 report on Friday, January 10th. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. boosted their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Barclays boosted 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 report on Monday, January 13th. Finally, Royal Bank of Canada boosted their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

Insider Transactions at TD SYNNEX

In other news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total value of $114,171.12. Following 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $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 have sold 49,172 shares of company stock valued at $6,342,766 in the last quarter. Insiders own 1.00% of the company’s stock.

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.