Farther Finance Advisors LLC Cuts Stake in TD SYNNEX Co. (NYSE:SNX)

Farther Finance Advisors LLC decreased its position in TD SYNNEX Co. (NYSE:SNX) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,061 shares of the business services provider’s stock after selling 280 shares during the period. Farther Finance Advisors LLC’s holdings in TD SYNNEX were worth $359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bartlett & CO. Wealth Management LLC lifted its position in TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the period. UMB Bank n.a. raised its stake in shares of 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 buying an additional 140 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of TD SYNNEX in the 3rd quarter valued at approximately $55,000. Blue Trust Inc. boosted its stake in shares of TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after buying an additional 129 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in TD SYNNEX by 31.9% during the fourth 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 currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now 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 document filed with the SEC, which is available through this link. Also, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 4,856 shares of the company’s stock, valued at $660,804.48. The trade was a 14.73 % 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 ninety days. Insiders own 1.00% of the company’s stock.

TD SYNNEX Stock Performance

NYSE SNX opened at $128.55 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a fifty-two week low of $102.23 and a fifty-two week high of $145.10. The business has a fifty day moving average of $137.02 and a 200-day moving average of $125.16. The stock has a market cap of $10.85 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.37%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 24th. TD SYNNEX’s dividend payout ratio is 22.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Royal Bank of Canada boosted their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and increased their target price for the company from $122.00 to $147.00 in a report on Friday, January 10th. Barclays boosted their price target 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. Finally, JPMorgan Chase & Co. upped their price target on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. 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 target price of $147.50.

TD SYNNEX 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.