South Dakota Investment Council Grows Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

South Dakota Investment Council raised its position in TD SYNNEX Co. (NYSE:SNX) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,668 shares of the business services provider’s stock after acquiring an additional 5,692 shares during the quarter. South Dakota Investment Council’s holdings in TD SYNNEX were worth $8,523,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC increased its position 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 acquiring an additional 176 shares during the period. UMB Bank n.a. increased its position in shares of TD SYNNEX by 48.4% in the fourth 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 during the period. Point72 DIFC Ltd purchased a new position in shares of TD SYNNEX in the third quarter valued at about $55,000. Blue Trust Inc. increased its position in shares of TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 129 shares during the period. Finally, Global Retirement Partners LLC boosted its stake in shares of TD SYNNEX by 31.9% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Trading Down 1.2 %

NYSE:SNX opened at $141.61 on Friday. TD SYNNEX Co. has a one year low of $101.21 and a one year high of $145.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The company’s 50-day simple moving average is $132.56 and its 200 day simple moving average is $123.40. The firm has a market capitalization of $11.95 billion, a P/E ratio of 17.79, a PEG ratio of 1.06 and a beta of 1.49.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio is currently 22.11%.

Insider Transactions at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of the company’s 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 transaction, the director now owns 111,080 shares in the company, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the transaction, the director now owns 4,856 shares in the company, valued at approximately $660,804.48. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,289 shares of company stock worth $3,639,500. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SNX. Royal Bank of Canada lifted their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday, February 15th. JPMorgan Chase & Co. lifted their target price on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Barclays lifted their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Finally, Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and lifted their target price for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

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.