Wealthfront Advisers LLC Takes Position in TD SYNNEX Co. (NYSE:SNX)

Wealthfront Advisers LLC acquired a new stake in shares of TD SYNNEX Co. (NYSE:SNX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 16,393 shares of the business services provider’s stock, valued at approximately $1,923,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC grew its stake in shares of TD SYNNEX by 345.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the last quarter. UMB Bank n.a. grew its stake in shares of TD SYNNEX by 48.4% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after buying an additional 140 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of TD SYNNEX during the third quarter valued at about $55,000. Blue Trust Inc. grew its stake in shares of TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after buying an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of TD SYNNEX by 31.9% in the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock worth $56,000 after purchasing an additional 116 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and raised their target price for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Royal Bank of Canada raised their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. raised their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Barclays raised their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $127.21 on Friday. The stock’s 50 day simple moving average is $136.81 and its two-hundred day simple moving average is $125.07. 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 $10.73 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.06 and a beta of 1.51. TD SYNNEX Co. has a fifty-two week low of $102.23 and a fifty-two week high of $145.10.

TD SYNNEX Increases Dividend

The firm also recently announced 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 positive change from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 24th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

Insider Activity

In related news, Director Ann F. Vezina sold 839 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 4,856 shares in the company, valued at $660,804.48. The trade was a 14.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction 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. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,172 shares of company stock worth $6,342,766. Insiders own 1.00% of the company’s stock.

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.