HighTower Advisors LLC Boosts Stake in TD SYNNEX Co. (NYSE:SNX)

HighTower Advisors LLC lifted its stake in TD SYNNEX Co. (NYSE:SNX) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,957 shares of the business services provider’s stock after purchasing an additional 2,694 shares during the quarter. HighTower Advisors LLC owned about 0.13% of TD SYNNEX worth $12,661,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC boosted its position in shares of TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after purchasing an additional 1,154,651 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after purchasing an additional 813,634 shares in the last quarter. Ninety One UK Ltd boosted its position in shares of TD SYNNEX by 75.4% in the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after purchasing an additional 1,016,251 shares in the last quarter. State Street Corp boosted its position in shares of TD SYNNEX by 0.7% in the 3rd quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock worth $262,943,000 after purchasing an additional 15,995 shares in the last quarter. Finally, River Road Asset Management LLC boosted its position in shares of TD SYNNEX by 0.5% in the 4th quarter. River Road Asset Management LLC now owns 869,367 shares of the business services provider’s stock worth $101,959,000 after purchasing an additional 4,220 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Price Performance

NYSE SNX opened at $127.21 on Monday. The business’s fifty day moving average price is $136.81 and its 200-day moving average price is $125.11. The stock has a market capitalization of $10.73 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. 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 declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.38%. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. TD SYNNEX’s dividend payout ratio is presently 22.11%.

Analyst Ratings Changes

A number of brokerages have recently commented on SNX. Cfra raised 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 research report on Friday, January 10th. JPMorgan Chase & Co. boosted their price target on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Royal Bank of Canada upped their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Barclays upped their price objective on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Finally, StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.50.

Insider Activity

In other news, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $135.88, for a total value of $2,717,600.00. Following the completion of the sale, the director now owns 65,480 shares of the company’s stock, valued at $8,897,422.40. This trade represents a 23.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,172 shares of company stock valued at $6,342,766 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

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.