Raymond James Financial Inc. Acquires Shares of 401,552 TD SYNNEX Co. (NYSE:SNX)

Raymond James Financial Inc. purchased a new position in shares of TD SYNNEX Co. (NYSE:SNX) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 401,552 shares of the business services provider’s stock, valued at approximately $47,094,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System grew its stake in shares of TD SYNNEX by 0.4% during the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock worth $2,607,000 after acquiring an additional 78 shares during the period. Proficio Capital Partners LLC bought a new position in shares of TD SYNNEX during the 4th quarter worth $5,158,000. M&T Bank Corp grew its stake in shares of TD SYNNEX by 18.1% during the 4th quarter. M&T Bank Corp now owns 2,583 shares of the business services provider’s stock worth $303,000 after acquiring an additional 395 shares during the period. Atria Investments Inc grew its stake in shares of TD SYNNEX by 26.0% during the 4th quarter. Atria Investments Inc now owns 3,607 shares of the business services provider’s stock worth $423,000 after acquiring an additional 745 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of TD SYNNEX by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider’s stock worth $59,512,000 after acquiring an additional 9,915 shares during the period. Institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. increased 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. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Finally, Barclays increased their price objective on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $147.50.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the sale, the director now owns 4,856 shares of the company’s stock, valued at $660,804.48. This trade represents a 14.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the sale, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock valued at $6,342,766 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

TD SYNNEX Stock Performance

NYSE:SNX opened at $127.87 on Wednesday. The business’s 50-day moving average price is $136.24 and its two-hundred day moving average price is $125.01. TD SYNNEX Co. has a twelve month low of $102.23 and a twelve month high of $145.10. The stock has a market cap of $10.79 billion, a P/E ratio of 16.06, a PEG ratio of 1.06 and a beta of 1.51. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were issued a $0.44 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.76 annualized dividend and a dividend yield of 1.38%. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

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.