Bridgewater Advisors Inc. Decreases Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Bridgewater Advisors Inc. lessened its stake in TD SYNNEX Co. (NYSE:SNX) by 14.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,522 shares of the business services provider’s stock after selling 1,955 shares during the quarter. Bridgewater Advisors Inc.’s holdings in TD SYNNEX were worth $1,351,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC grew 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 buying an additional 1,154,651 shares during the last quarter. JPMorgan Chase & Co. grew its holdings 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 worth $361,707,000 after purchasing an additional 813,634 shares during the last quarter. Thrivent Financial for Lutherans increased its position 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 in the last quarter. AQR Capital Management LLC lifted its holdings in shares of TD SYNNEX by 21.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock valued at $178,421,000 after purchasing an additional 269,759 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in shares of TD SYNNEX by 39.0% in the 3rd quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider’s stock worth $99,123,000 after purchasing an additional 231,715 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

Insider Transactions at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the sale, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at $2,874,664.63. This represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,876 shares of company stock worth $3,319,329 over the last quarter. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SNX shares. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and upped their target price for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Barclays increased their price objective 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. Barrington Research reissued an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. 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 report on Monday, January 13th. Finally, StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.38.

TD SYNNEX Trading Down 0.1 %

NYSE SNX opened at $136.98 on Monday. TD SYNNEX Co. has a 1 year low of $98.70 and a 1 year high of $138.31. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The company has a market capitalization of $11.66 billion, a PE ratio of 17.21, a P/E/G ratio of 1.24 and a beta of 1.46. The company has a fifty day moving average of $121.55 and a 200 day moving average of $118.66.

TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s payout ratio is 20.10%.

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.