Stratos Investment Management LLC Has $4.28 Million Holdings in TD SYNNEX Co. (NYSE:SNX)

Stratos Investment Management LLC grew its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 29.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,481 shares of the business services provider’s stock after acquiring an additional 8,366 shares during the quarter. Stratos Investment Management LLC’s holdings in TD SYNNEX were worth $4,279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC increased its position in TD SYNNEX by 18.4% during the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after purchasing an additional 1,154,651 shares in the last quarter. Ninety One UK Ltd grew its stake in shares of TD SYNNEX by 75.4% during the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after buying an additional 1,016,251 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of 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 buying an additional 813,634 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of TD SYNNEX by 560.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock valued at $44,639,000 after acquiring an additional 315,424 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of TD SYNNEX by 39.0% during the 3rd quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider’s stock valued at $99,123,000 after acquiring an additional 231,715 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX 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 sale, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. The trade was a 3.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,289 shares of company stock worth $3,639,500. Corporate insiders own 1.90% of the company’s stock.

TD SYNNEX Stock Performance

SNX stock opened at $140.10 on Wednesday. The firm has a market cap of $11.86 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.06 and a beta of 1.48. 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 price of $127.10 and a 200-day moving average price of $120.96. TD SYNNEX Co. has a 1-year low of $98.70 and a 1-year high of $144.18.

TD SYNNEX Increases Dividend

The firm 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 is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, January 24th. TD SYNNEX’s payout ratio is presently 22.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SNX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a report on Wednesday, January 15th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Barclays raised their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. boosted their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Finally, Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and upped their price target for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $144.38.

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.