Bank of New York Mellon Corp Has $80.06 Million Position in TD SYNNEX Co. (NYSE:SNX)

Bank of New York Mellon Corp trimmed its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 682,618 shares of the business services provider's stock after selling 36,599 shares during the quarter. Bank of New York Mellon Corp owned 0.81% of TD SYNNEX worth $80,057,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. IFP Advisors Inc boosted its holdings in TD SYNNEX by 976.6% in the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider's stock worth $119,000 after acquiring an additional 918 shares during the period. South Dakota Investment Council raised its holdings in shares of TD SYNNEX by 8.5% during the fourth quarter. South Dakota Investment Council now owns 72,668 shares of the business services provider's stock worth $8,523,000 after purchasing an additional 5,692 shares during the period. Ieq Capital LLC lifted its holdings in TD SYNNEX by 50.4% in the fourth quarter. Ieq Capital LLC now owns 2,722 shares of the business services provider's stock worth $319,000 after acquiring an additional 912 shares during the last quarter. Global Retirement Partners LLC boosted its position in TD SYNNEX by 31.9% during the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock valued at $56,000 after purchasing an additional 116 shares during the period. Finally, Venturi Wealth Management LLC acquired a new position in shares of TD SYNNEX during the fourth quarter valued at $171,000. Hedge funds and other institutional investors own 84.00% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barclays upped their target price 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. Royal Bank of Canada lifted their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. increased their target price on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, January 13th. Cfra raised shares of TD SYNNEX from a "hold" rating to a "buy" rating and upped their price target for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Finally, StockNews.com lowered shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, TD SYNNEX has an average rating of "Moderate Buy" and an average target price of $147.50.

TD SYNNEX Trading Down 2.0 %

Shares of TD SYNNEX stock traded down $2.67 on Thursday, reaching $130.28. 156,783 shares of the company were exchanged, compared to its average volume of 616,998. TD SYNNEX Co. has a fifty-two week low of $102.23 and a fifty-two week high of $145.10. The firm has a market capitalization of $10.99 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth 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. The stock has a fifty day moving average price of $135.16 and a 200-day moving average price of $124.66.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.35%. This is a boost from TD SYNNEX's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 24th. TD SYNNEX's dividend payout ratio (DPR) is presently 22.11%.

Insider Transactions at TD SYNNEX

In related news, CEO Patrick Zammit sold 6,823 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were 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 owns 165,604 shares of the company's stock, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ann F. Vezina sold 839 shares of the business's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the sale, the director now directly owns 4,856 shares in the company, valued at approximately $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock valued at $6,342,766 over the last ninety days. Corporate insiders own 1.00% of the company's stock.

TD SYNNEX 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.