TD SYNNEX Co. (NYSE:SNX) Shares Purchased by Globeflex Capital L P

Globeflex Capital L P increased its position in shares of TD SYNNEX Co. (NYSE:SNX) by 188.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,661 shares of the business services provider’s stock after acquiring an additional 85,367 shares during the period. TD SYNNEX comprises 1.3% of Globeflex Capital L P’s investment portfolio, making the stock its 16th biggest position. Globeflex Capital L P owned approximately 0.15% of TD SYNNEX worth $15,324,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SNX. Atria Investments Inc raised its position in TD SYNNEX by 4.1% in the 3rd 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 in the last quarter. Crossmark Global Holdings Inc. raised its position in TD SYNNEX by 15.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,964 shares of the business services provider’s stock valued at $716,000 after purchasing an additional 777 shares in the last quarter. GSA Capital Partners LLP raised its position in TD SYNNEX by 6.3% in the 3rd quarter. GSA Capital Partners LLP now owns 3,952 shares of the business services provider’s stock valued at $475,000 after purchasing an additional 233 shares in the last quarter. Victory Capital Management Inc. raised its position in TD SYNNEX by 24.9% in the 3rd quarter. Victory Capital Management Inc. now owns 414,662 shares of the business services provider’s stock valued at $49,793,000 after purchasing an additional 82,670 shares in the last quarter. Finally, KBC Group NV raised its position in TD SYNNEX by 159.4% in the 3rd quarter. KBC Group NV now owns 4,573 shares of the business services provider’s stock valued at $549,000 after purchasing an additional 2,810 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Trading Up 1.6 %

NYSE:SNX opened at $127.21 on Friday. The firm has a market cap of $10.73 billion, a P/E ratio of 15.98, a PEG ratio of 1.06 and a beta of 1.51. 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’s 50 day simple moving average is $136.81 and its 200-day simple moving average is $125.07. TD SYNNEX Co. has a 12-month low of $102.23 and a 12-month high of $145.10.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.38%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s payout ratio is presently 22.11%.

Insider Activity

In related news, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on 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 owns 111,080 shares in the company, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,172 shares of company stock valued at $6,342,766. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SNX shares. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Royal Bank of Canada boosted their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Barclays boosted their target price 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. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. boosted their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.50.

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.