Blueshift Asset Management LLC Takes Position in TD SYNNEX Co. (NYSE:SNX)

Blueshift Asset Management LLC acquired a new stake in TD SYNNEX Co. (NYSE:SNX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 5,962 shares of the business services provider’s stock, valued at approximately $699,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC lifted its stake 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 valued at $891,665,000 after purchasing an additional 1,154,651 shares during the period. JPMorgan Chase & Co. increased its position in TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after buying an additional 813,634 shares in the last quarter. Ninety One UK Ltd increased its position in TD SYNNEX by 75.4% in the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after buying an additional 1,016,251 shares in the last quarter. State Street Corp increased its position in TD SYNNEX by 0.7% in the 3rd quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock valued at $262,943,000 after buying an additional 15,995 shares in the last quarter. Finally, River Road Asset Management LLC increased its position in TD SYNNEX by 0.5% in the 4th quarter. River Road Asset Management LLC now owns 869,367 shares of the business services provider’s stock valued at $101,959,000 after buying an additional 4,220 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SNX. Barclays boosted their target price on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and boosted their target price for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Royal Bank of Canada boosted their target price on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.50.

TD SYNNEX Stock Performance

Shares of SNX opened at $132.13 on Thursday. 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 50 day moving average price of $137.34 and a two-hundred day moving average price of $125.26. The firm has a market capitalization of $11.15 billion, a P/E ratio of 16.60, a P/E/G ratio of 1.06 and a beta of 1.51. TD SYNNEX Co. has a 52 week low of $102.77 and a 52 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 $0.44 dividend. The ex-dividend date was Friday, January 24th. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.33%. TD SYNNEX’s dividend payout ratio is currently 22.11%.

Insider Activity

In other news, CEO Patrick Zammit sold 6,823 shares of the company’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 value of $975,689.00. Following the completion of the transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ann F. Vezina sold 839 shares of the company’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 of the company’s stock, valued at approximately $660,804.48. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock valued at $6,353,261 over the last three months. Corporate 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.