South Dakota Investment Council Purchases 5,692 Shares of TD SYNNEX Co. (NYSE:SNX)

South Dakota Investment Council boosted its position in TD SYNNEX Co. (NYSE:SNX) by 8.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 72,668 shares of the business services provider’s stock after purchasing an additional 5,692 shares during the period. South Dakota Investment Council owned about 0.09% of TD SYNNEX worth $8,523,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pathstone Holdings LLC grew its position in TD SYNNEX by 45.2% in the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after purchasing an additional 5,698 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after acquiring an additional 813,634 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in TD SYNNEX by 170.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 81,714 shares of the business services provider’s stock valued at $9,812,000 after acquiring an additional 51,465 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in TD SYNNEX in the fourth quarter valued at about $2,260,000. Finally, iSAM Funds UK Ltd purchased a new position in TD SYNNEX in the third quarter valued at about $500,000. 84.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SNX. Barclays boosted 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. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and upped their price target for the company from $122.00 to $147.00 in a research note 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 Saturday, February 15th. Finally, Royal Bank of Canada upped their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.50.

Insider Activity

In related news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total value of $114,171.12. Following the transaction, the director now owns 4,856 shares in the company, valued at $660,804.48. This trade represents a 14.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on 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 owns 111,080 shares in the company, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,289 shares of company stock worth $3,639,500. 1.90% of the stock is currently owned by corporate insiders.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $141.61 on Friday. The firm’s fifty day moving average price is $132.56 and its 200-day moving average price is $123.40. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The stock has a market cap of $11.95 billion, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. TD SYNNEX Co. has a fifty-two week low of $101.21 and a fifty-two week high of $145.10.

TD SYNNEX Increases Dividend

The business also recently disclosed 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 was Friday, January 24th. This represents a $1.76 annualized dividend and a dividend yield of 1.24%. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

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.