Benson Investment Management Company Inc. Buys 207 Shares of TD SYNNEX Co. (NYSE:SNX)

Benson Investment Management Company Inc. increased its stake in TD SYNNEX Co. (NYSE:SNX) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,360 shares of the business services provider’s stock after buying an additional 207 shares during the period. Benson Investment Management Company Inc.’s holdings in TD SYNNEX were worth $3,912,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNX. CIBC Asset Management Inc increased its position 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 acquiring an additional 86 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in TD SYNNEX by 3.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock valued at $315,000 after purchasing an additional 90 shares in the last quarter. AlphaMark Advisors LLC grew its position in shares of TD SYNNEX by 1.3% during the 3rd quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock worth $929,000 after buying an additional 100 shares in the last quarter. Atria Investments Inc increased its stake in shares of TD SYNNEX by 4.1% during the third quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock valued at $344,000 after buying an additional 112 shares during the period. Finally, Meixler Investment Management Ltd. raised its holdings in shares of TD SYNNEX by 2.1% in the third quarter. Meixler Investment Management Ltd. now owns 5,814 shares of the business services provider’s stock valued at $698,000 after acquiring an additional 120 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Down 0.9 %

TD SYNNEX stock opened at $132.78 on Tuesday. The business has a fifty day moving average price of $120.48 and a 200-day moving average price of $118.02. TD SYNNEX Co. has a 1-year low of $98.70 and a 1-year high of $134.48. The stock has a market capitalization of $11.30 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.14 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77.

TD SYNNEX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be paid a dividend of $0.44 per share. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.33%. TD SYNNEX’s payout ratio is presently 22.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. 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 Tuesday, January 7th. Cfra raised shares of 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 report on Friday. Barrington Research restated an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a report on Monday, September 23rd. Barclays lifted their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday. Finally, StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $144.38.

Insider Activity

In other news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the sale, 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 filing with the SEC, which is accessible through the SEC website. Also, insider David R. Vetter sold 20,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $123.14, for a total value of $2,462,800.00. Following the completion of the transaction, the insider now directly owns 66,381 shares in the company, valued at approximately $8,174,156.34. The trade was a 23.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,876 shares of company stock worth $8,196,529 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

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.