HB Wealth Management LLC Makes New Investment in TD SYNNEX Co. (NYSE:SNX)

HB Wealth Management LLC bought a new stake in TD SYNNEX Co. (NYSE:SNX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,382 shares of the business services provider's stock, valued at approximately $279,000.

A number of other hedge funds have also recently made changes to their positions in SNX. Pathstone Holdings LLC lifted its holdings in TD SYNNEX by 45.2% during the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider's stock worth $2,197,000 after buying an additional 5,698 shares during the period. JPMorgan Chase & Co. lifted its stake 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 worth $361,707,000 after acquiring an additional 813,634 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in TD SYNNEX by 20.7% in the second quarter. The Manufacturers Life Insurance Company now owns 67,543 shares of the business services provider's stock valued at $7,794,000 after acquiring an additional 11,589 shares during the last quarter. Stratos Investment Management LLC increased its position in TD SYNNEX by 5.6% during the 3rd quarter. Stratos Investment Management LLC now owns 28,115 shares of the business services provider's stock valued at $3,376,000 after purchasing an additional 1,486 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in TD SYNNEX by 170.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 81,714 shares of the business services provider's stock worth $9,812,000 after purchasing an additional 51,465 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Loop Capital reaffirmed a "buy" rating and issued a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. Cfra upgraded TD SYNNEX from a "hold" rating to a "buy" rating and increased their price target for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Barclays lifted their price objective on TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Royal Bank of Canada restated an "outperform" rating and set a $140.00 target price on shares of TD SYNNEX in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. lifted their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a "neutral" rating in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, TD SYNNEX has an average rating of "Moderate Buy" and a consensus target price of $144.38.

Insider Activity

In related news, insider Simon Leung sold 6,249 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the sale, the insider now directly owns 23,339 shares of the company's stock, valued at approximately $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Marshall Witt sold 1,510 shares of the business's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the completion of the transaction, the chief financial officer now directly owns 48,362 shares in the company, valued at approximately $5,858,089.06. This represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,715 shares of company stock worth $3,433,500 over the last three months. 1.90% of the stock is currently owned by insiders.

TD SYNNEX Stock Down 0.6 %

Shares of NYSE SNX traded down $0.85 during midday trading on Friday, hitting $142.34. 404,403 shares of the stock traded hands, compared to its average volume of 578,796. TD SYNNEX Co. has a one year low of $98.70 and a one year high of $143.77. The business has a 50 day moving average price of $123.83 and a two-hundred day moving average price of $119.64. 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 company has a market cap of $12.11 billion, a PE ratio of 17.88, a P/E/G ratio of 1.05 and a beta of 1.46.

TD SYNNEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.24%. This is a positive change from TD SYNNEX's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, January 24th. TD SYNNEX's dividend payout ratio (DPR) is 20.10%.

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.