Mutual of America Capital Management LLC Reduces Stock Position in TD SYNNEX Co. (NYSE:SNX)

Mutual of America Capital Management LLC trimmed its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,003 shares of the business services provider’s stock after selling 1,105 shares during the quarter. Mutual of America Capital Management LLC’s holdings in TD SYNNEX were worth $4,692,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc increased its stake in TD SYNNEX by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock worth $313,000 after acquiring an additional 86 shares during the last quarter. Atria Investments Inc increased its position in shares of TD SYNNEX by 4.1% during the 3rd quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock valued at $344,000 after purchasing an additional 112 shares during the last quarter. Highland Capital Management LLC raised its holdings in TD SYNNEX by 6.5% during the 4th quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider’s stock valued at $223,000 after buying an additional 116 shares during the period. Global Retirement Partners LLC lifted its position in 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 buying an additional 116 shares during the last quarter. Finally, Meixler Investment Management Ltd. lifted its position in TD SYNNEX by 2.0% in the fourth quarter. Meixler Investment Management Ltd. now owns 5,932 shares of the business services provider’s stock worth $696,000 after buying an additional 118 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $132.39 on Wednesday. TD SYNNEX Co. has a 12 month low of $102.23 and a 12 month high of $145.10. The stock’s fifty day moving average price is $135.16 and its 200-day moving average price is $124.66. The firm has a market cap of $11.17 billion, a P/E ratio of 16.63, a P/E/G ratio of 1.06 and a beta of 1.49. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46.

TD SYNNEX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were issued a $0.44 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.76 annualized dividend and a dividend yield of 1.33%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s payout ratio is currently 22.11%.

Insider Transactions at TD SYNNEX

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 owns 4,856 shares of the company’s stock, valued at $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total value 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,172 shares of company stock valued at $6,342,766. Company insiders own 1.00% of the company’s stock.

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.