Wedge Capital Management L L P NC Cuts Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Wedge Capital Management L L P NC cut its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 10.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 29,721 shares of the business services provider’s stock after selling 3,555 shares during the quarter. Wedge Capital Management L L P NC’s holdings in TD SYNNEX were worth $3,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Commonwealth Equity Services LLC bought a new stake in shares of TD SYNNEX during the 2nd quarter valued at about $351,000. American Century Companies Inc. grew its stake in TD SYNNEX by 60.4% during the second quarter. American Century Companies Inc. now owns 87,470 shares of the business services provider’s stock valued at $10,094,000 after acquiring an additional 32,948 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in TD SYNNEX by 20.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 47,805 shares of the business services provider’s stock worth $5,517,000 after purchasing an additional 8,173 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in TD SYNNEX by 30.9% during the second quarter. Mutual of America Capital Management LLC now owns 44,496 shares of the business services provider’s stock valued at $5,135,000 after buying an additional 10,508 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of TD SYNNEX in the second quarter valued at $226,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insiders Place Their Bets

In related news, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now directly owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,876 shares of company stock valued at $3,319,329. Insiders own 1.90% of the company’s stock.

TD SYNNEX Stock Down 0.1 %

TD SYNNEX stock opened at $136.98 on Monday. TD SYNNEX Co. has a 1-year low of $98.70 and a 1-year high of $138.31. The stock has a market capitalization of $11.66 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.24 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The business has a fifty day moving average price of $121.55 and a 200-day moving average price of $118.66.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s payout ratio is currently 20.10%.

Analyst Ratings Changes

A number of brokerages recently commented on SNX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Wednesday, January 15th. Loop Capital reissued a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price objective on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Finally, Barrington Research restated an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a report on Monday, September 23rd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $144.38.

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.