Allspring Global Investments Holdings LLC Has $40.49 Million Stake in TD SYNNEX Co. (NYSE:SNX)

Allspring Global Investments Holdings LLC increased its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 325.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 347,451 shares of the business services provider's stock after purchasing an additional 265,737 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.41% of TD SYNNEX worth $40,488,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Pathstone Holdings LLC grew its stake in shares of TD SYNNEX by 45.2% during the third quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider's stock worth $2,197,000 after purchasing an additional 5,698 shares during the period. JPMorgan Chase & Co. lifted its holdings in TD SYNNEX by 37.0% during 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 in the last quarter. Stratos Investment Management LLC lifted its holdings in TD SYNNEX by 5.6% during the third quarter. Stratos Investment Management LLC now owns 28,115 shares of the business services provider's stock worth $3,376,000 after acquiring an additional 1,486 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in TD SYNNEX during the fourth quarter worth about $2,260,000. Finally, iSAM Funds UK Ltd bought a new position in TD SYNNEX during the third quarter worth about $500,000. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other TD SYNNEX news, 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 transaction, the chief executive officer now owns 165,604 shares of the company's stock, valued at $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 48,362 shares in the company, valued at approximately $5,858,089.06. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,289 shares of company stock worth $3,639,500. Corporate insiders own 1.90% of the company's stock.

TD SYNNEX Stock Up 0.3 %

SNX traded up $0.49 on Tuesday, hitting $144.91. 177,395 shares of the company were exchanged, compared to its average volume of 662,617. TD SYNNEX Co. has a 12 month low of $99.95 and a 12 month high of $145.10. The company has a market cap of $12.27 billion, a PE ratio of 18.21, a PEG ratio of 1.06 and a beta of 1.49. 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's fifty day moving average is $130.95 and its 200-day moving average is $122.57.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, January 24th. This is a positive change from TD SYNNEX's previous quarterly dividend of $0.40. TD SYNNEX's dividend payout ratio is presently 22.11%.

Wall Street Analyst Weigh In

SNX has been the topic of several recent analyst reports. 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. StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a report on Saturday. Barclays lifted their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. Cfra upgraded TD SYNNEX from a "hold" rating to a "buy" rating and boosted their price target for the company from $122.00 to $147.00 in a report on Friday, January 10th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, TD SYNNEX presently has an average rating of "Moderate Buy" and an average target price of $144.38.

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.