Handelsbanken Fonder AB Sells 2,100 Shares of TD SYNNEX Co. (NYSE:SNX)

Handelsbanken Fonder AB cut its stake in TD SYNNEX Co. (NYSE:SNX) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,042 shares of the business services provider’s stock after selling 2,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in TD SYNNEX were worth $2,351,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. FMR LLC grew its stake in TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after buying an additional 1,154,651 shares during the last quarter. Ninety One UK Ltd boosted its holdings in shares of TD SYNNEX by 75.4% during the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after acquiring an additional 1,016,251 shares during the period. JPMorgan Chase & Co. grew its position in shares of 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 purchasing an additional 813,634 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of TD SYNNEX by 560.0% during the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock worth $44,639,000 after purchasing an additional 315,424 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in TD SYNNEX by 325.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 347,451 shares of the business services provider’s stock valued at $40,488,000 after purchasing an additional 265,737 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SNX shares. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. raised their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” 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 Saturday, February 15th. Royal Bank of Canada raised their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Barclays lifted 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 report on Monday, January 13th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $141.45 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The company has a market cap of $11.93 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. The company has a 50 day moving average of $132.89 and a 200-day moving average of $123.71. TD SYNNEX Co. has a 1-year low of $101.21 and a 1-year high of $145.10.

TD SYNNEX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were paid a dividend of $0.44 per share. The ex-dividend date 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 yield of 1.24%. TD SYNNEX’s dividend payout ratio is presently 22.11%.

Insider Buying and Selling at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. This represents a 15.26 % 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, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total transaction of $182,906.30. Following the sale, the chief financial officer now directly owns 48,362 shares in the company, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,289 shares of company stock valued at $3,639,500. 1.90% of the stock is currently owned by corporate 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.