Raymond James Financial Inc. Buys New Position in TD SYNNEX Co. (NYSE:SNX)

Raymond James Financial Inc. bought a new stake in TD SYNNEX Co. (NYSE:SNX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 401,552 shares of the business services provider’s stock, valued at approximately $47,094,000. Raymond James Financial Inc. owned about 0.47% of TD SYNNEX at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Arizona State Retirement System boosted its holdings in TD SYNNEX by 0.4% in the fourth quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock valued at $2,607,000 after acquiring an additional 78 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in TD SYNNEX in the fourth quarter valued at approximately $5,158,000. M&T Bank Corp lifted its stake in TD SYNNEX by 18.1% in the fourth quarter. M&T Bank Corp now owns 2,583 shares of the business services provider’s stock valued at $303,000 after buying an additional 395 shares during the period. Atria Investments Inc lifted its stake in TD SYNNEX by 26.0% in the fourth quarter. Atria Investments Inc now owns 3,607 shares of the business services provider’s stock valued at $423,000 after buying an additional 745 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in TD SYNNEX by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider’s stock valued at $59,512,000 after buying an additional 9,915 shares during the period. 84.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

TD SYNNEX Trading Up 1.3 %

NYSE SNX opened at $127.87 on Wednesday. The firm has a market capitalization of $10.79 billion, a P/E ratio of 16.06, a PEG ratio of 1.06 and a beta of 1.51. The business has a fifty day simple moving average of $136.24 and a 200 day simple moving average of $125.01. TD SYNNEX Co. has a 12 month low of $102.23 and a 12 month high of $145.10. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46.

TD SYNNEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were given a $0.44 dividend. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Friday, January 24th. TD SYNNEX’s dividend payout ratio is presently 22.11%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction 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 owns 111,080 shares in the company, valued at $13,065,229.60. This represents a 15.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the transaction, the chief executive officer now owns 165,604 shares of the company’s stock, valued at $23,681,372. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 49,172 shares of company stock valued at $6,342,766. 1.00% of the stock is owned by insiders.

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.