Bank of New York Mellon Corp Has $80.06 Million Holdings in TD SYNNEX Co. (NYSE:SNX)

Bank of New York Mellon Corp trimmed its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 5.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 682,618 shares of the business services provider’s stock after selling 36,599 shares during the period. Bank of New York Mellon Corp owned 0.81% of TD SYNNEX worth $80,057,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SNX. Bartlett & CO. Wealth Management LLC increased its stake in shares of 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 buying an additional 176 shares in the last quarter. UMB Bank n.a. increased its position in TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 140 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in TD SYNNEX in the 3rd quarter valued at about $55,000. Blue Trust Inc. lifted its position in shares of TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after purchasing an additional 129 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of TD SYNNEX by 31.9% during the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 116 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Price Performance

Shares of SNX opened at $137.49 on Monday. 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 market cap of $11.60 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. The stock’s 50-day moving average price is $134.56 and its two-hundred day moving average price is $124.43. TD SYNNEX Co. has a 1 year low of $102.23 and a 1 year high of $145.10.

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. The ex-dividend date of this dividend was Friday, January 24th. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.28%. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total transaction of $182,906.30. Following the transaction, the chief financial officer now directly owns 48,362 shares in the company, valued at approximately $5,858,089.06. The trade was a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard T. Hume sold 20,000 shares of the business’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 transaction, the director now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 29,289 shares of company stock valued at $3,639,500 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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