Blue Trust Inc. Boosts Stake in TD SYNNEX Co. (NYSE:SNX)

Blue Trust Inc. grew its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 119.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 749 shares of the business services provider’s stock after acquiring an additional 407 shares during the quarter. Blue Trust Inc.’s holdings in TD SYNNEX were worth $90,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its holdings in shares of TD SYNNEX by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock worth $313,000 after purchasing an additional 86 shares during the last quarter. AlphaMark Advisors LLC boosted its position in shares of TD SYNNEX by 1.3% in the third quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock worth $929,000 after acquiring an additional 100 shares during the last quarter. Atria Investments Inc grew its holdings in TD SYNNEX by 4.1% in the third quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock valued at $344,000 after purchasing an additional 112 shares during the period. Meixler Investment Management Ltd. increased its position in TD SYNNEX by 2.1% during the third quarter. Meixler Investment Management Ltd. now owns 5,814 shares of the business services provider’s stock worth $698,000 after purchasing an additional 120 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in TD SYNNEX by 10.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,409 shares of the business services provider’s stock worth $169,000 after purchasing an additional 133 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $142.78 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average of $128.51 and a 200-day moving average of $121.44. The stock has a market cap of $12.09 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 1.06 and a beta of 1.48. TD SYNNEX Co. has a 52 week low of $98.70 and a 52 week high of $144.27.

TD SYNNEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were given a dividend of $0.44 per share. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. This represents a $1.76 annualized dividend and a dividend yield of 1.23%. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

Analysts Set New Price Targets

A number of analysts have recently commented on SNX shares. JPMorgan Chase & Co. upped their price objective on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Friday. Cfra raised 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 note on Friday, January 10th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research report on Wednesday, January 15th. Finally, Barclays upped 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. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $144.38.

Insider Activity

In other news, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the transaction, the director now owns 4,856 shares of the company’s stock, valued at $660,804.48. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,289 shares of company stock worth $3,639,500. 1.90% of the stock is currently owned by insiders.

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.