Handelsinvest Investeringsforvaltning Has $568,000 Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Handelsinvest Investeringsforvaltning lowered its position in TD SYNNEX Co. (NYSE:SNX) by 15.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,022 shares of the business services provider’s stock after selling 908 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in TD SYNNEX were worth $568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. State of Michigan Retirement System lifted its holdings in TD SYNNEX by 13.8% in the first quarter. State of Michigan Retirement System now owns 14,021 shares of the business services provider’s stock valued at $1,586,000 after buying an additional 1,700 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in TD SYNNEX by 85.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 13,199 shares of the business services provider’s stock worth $1,493,000 after buying an additional 6,098 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of TD SYNNEX by 9.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,571 shares of the business services provider’s stock valued at $743,000 after purchasing an additional 548 shares during the last quarter. Atlas Capital Advisors LLC increased its stake in TD SYNNEX by 17.3% in the 1st quarter. Atlas Capital Advisors LLC now owns 2,769 shares of the business services provider’s stock valued at $313,000 after buying an additional 408 shares during the last quarter. Finally, BTC Capital Management Inc. bought a new stake in TD SYNNEX during the first quarter worth $238,000. Institutional investors own 84.00% of the company’s stock.

Insider Transactions at TD SYNNEX

In related news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,580,095.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the transaction, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,363 shares in the company, valued at approximately $25,400,041.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,000 shares of company stock valued at $5,833,100. 1.90% of the stock is currently owned by company insiders.

TD SYNNEX Price Performance

SNX stock opened at $112.39 on Wednesday. The firm has a 50 day moving average of $124.63 and a 200-day moving average of $112.84. The firm has a market capitalization of $10.01 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 1.14 and a beta of 1.52. TD SYNNEX Co. has a 12 month low of $89.73 and a 12 month high of $133.85. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.42%. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.41%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays boosted their target price on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 27th. UBS Group increased their price objective on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Cfra boosted their target price on TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research note on Tuesday, March 26th. JPMorgan Chase & Co. cut their price target on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Finally, Bank of America lowered their price objective on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.10.

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.