Verity Asset Management Inc. Invests $267,000 in TD SYNNEX Co. (NYSE:SNX)

Verity Asset Management Inc. bought a new position in shares of TD SYNNEX Co. (NYSE:SNX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,277 shares of the business services provider’s stock, valued at approximately $267,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC increased its holdings 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 purchasing an additional 176 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of TD SYNNEX in the third quarter valued at $30,000. UMB Bank n.a. increased its holdings in shares of TD SYNNEX by 99.3% in the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of TD SYNNEX in the third quarter valued at $37,000. Finally, Point72 DIFC Ltd acquired a new position in shares of TD SYNNEX in the third quarter valued at $55,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on SNX. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and upped their price objective for the company from $122.00 to $147.00 in a report on Friday, January 10th. JPMorgan Chase & Co. upped their price target 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. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Wednesday, January 15th. Finally, Barclays upped their price target 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. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $144.38.

TD SYNNEX Trading Up 0.6 %

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

TD SYNNEX Increases Dividend

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

Insider Buying and Selling

In other news, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the transaction, the chief executive officer now owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,289 shares of company stock valued at $3,639,500 over the last quarter. 1.90% of the stock is 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.