HB Wealth Management LLC Takes $279,000 Position in TD SYNNEX Co. (NYSE:SNX)

HB Wealth Management LLC acquired a new stake in shares of TD SYNNEX Co. (NYSE:SNX) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,382 shares of the business services provider’s stock, valued at approximately $279,000.

A number of other hedge funds have also recently made changes to their positions in SNX. FMR LLC grew its holdings in shares of TD SYNNEX by 18.4% during the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after buying an additional 1,154,651 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in TD SYNNEX by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after purchasing an additional 813,634 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in TD SYNNEX by 560.0% during the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock worth $44,639,000 after purchasing an additional 315,424 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in TD SYNNEX by 39.0% during the third quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider’s stock worth $99,123,000 after purchasing an additional 231,715 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in TD SYNNEX by 148.2% during the second quarter. Point72 Asset Management L.P. now owns 313,005 shares of the business services provider’s stock worth $36,121,000 after purchasing an additional 186,905 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

NYSE SNX opened at $142.34 on Friday. The company’s 50 day moving average is $123.83 and its 200-day moving average is $119.58. TD SYNNEX Co. has a 12-month low of $98.70 and a 12-month high of $143.77. 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 market cap of $12.11 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 1.05 and a beta of 1.46.

TD SYNNEX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.76 annualized dividend and a dividend yield of 1.24%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s payout ratio is 22.11%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SNX shares. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a report on Wednesday, January 15th. 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 report on Monday, January 13th. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Loop Capital reaffirmed a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. lifted their price objective 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. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.38.

Insider Activity

In related news, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the sale, the director now owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This represents a 14.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,715 shares of company stock valued at $3,433,500 over the last quarter. Company insiders own 1.90% of the company’s stock.

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.