Verity Asset Management Inc. Buys Shares of 2,277 TD SYNNEX Co. (NYSE:SNX)

Verity Asset Management Inc. bought a new stake in shares of TD SYNNEX Co. (NYSE:SNX) in the fourth quarter, Holdings Channel.com reports. The fund bought 2,277 shares of the business services provider’s stock, valued at approximately $267,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC increased its position in TD SYNNEX by 345.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of TD SYNNEX during the 3rd quarter worth approximately $30,000. UMB Bank n.a. grew its position in shares of TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after buying an additional 144 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in shares of TD SYNNEX during the 3rd quarter worth approximately $37,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of TD SYNNEX during the 3rd quarter worth approximately $55,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Trading Up 0.6 %

Shares of TD SYNNEX stock opened at $140.10 on Wednesday. TD SYNNEX Co. has a 52-week low of $98.70 and a 52-week high of $144.18. The stock’s 50-day simple moving average is $127.10 and its 200 day simple moving average is $120.96. The stock has a market capitalization of $11.86 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.06 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24.

TD SYNNEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.26%. TD SYNNEX’s dividend payout ratio is currently 22.11%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays raised their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a report on Wednesday, January 15th. JPMorgan Chase & Co. lifted their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Finally, Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price target for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and an average target price of $144.38.

Insider Activity

In other news, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the sale, the director now directly owns 4,856 shares in the company, valued at $660,804.48. This represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total value of $182,906.30. Following the sale, the chief financial officer now owns 48,362 shares in the company, valued at approximately $5,858,089.06. This represents a 3.03 % 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 worth $3,639,500 over the last ninety days. Company insiders own 1.90% of the company’s stock.

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.