Bridgewater Advisors Inc. Cuts Position in TD SYNNEX Co. (NYSE:SNX)

Bridgewater Advisors Inc. reduced its stake in TD SYNNEX Co. (NYSE:SNX - Free Report) by 14.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,522 shares of the business services provider's stock after selling 1,955 shares during the quarter. Bridgewater Advisors Inc.'s holdings in TD SYNNEX were worth $1,351,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNX. FMR LLC lifted its stake in TD SYNNEX by 18.4% during the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider's stock valued at $891,665,000 after acquiring an additional 1,154,651 shares during the period. JPMorgan Chase & Co. lifted its position 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 valued at $361,707,000 after purchasing an additional 813,634 shares during the period. State Street Corp boosted its holdings in TD SYNNEX by 0.7% in the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider's stock worth $262,943,000 after purchasing an additional 15,995 shares during the last quarter. AQR Capital Management LLC grew its position in TD SYNNEX by 21.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider's stock worth $178,421,000 after purchasing an additional 269,759 shares during the period. Finally, Lord Abbett & CO. LLC raised its stake in TD SYNNEX by 39.0% during the 3rd quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider's stock valued at $99,123,000 after buying an additional 231,715 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insider Activity

In other news, insider Simon Leung sold 6,249 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the transaction, the insider now owns 23,339 shares of the company's stock, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the company's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total transaction of $182,906.30. Following the transaction, the chief financial officer now owns 48,362 shares of the company's stock, 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 have sold 27,876 shares of company stock worth $3,319,329 over the last ninety days. Corporate insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SNX. Loop Capital reaffirmed a "buy" rating and issued a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Tuesday, January 14th. 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 note 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. increased their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $144.38.

TD SYNNEX Price Performance

Shares of SNX traded down $0.19 during mid-day trading on Monday, reaching $136.98. The stock had a trading volume of 641,478 shares, compared to its average volume of 594,708. The firm has a market cap of $11.66 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.24 and a beta of 1.46. TD SYNNEX Co. has a 12 month low of $98.70 and a 12 month high of $138.31. The business has a fifty day moving average of $121.55 and a 200 day moving average of $118.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25.

TD SYNNEX Increases Dividend

The firm also recently declared 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 yield of 1.28%. The ex-dividend date is 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%.

TD SYNNEX Company 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.