Empowered Funds LLC Makes New Investment in TD SYNNEX Co. (NYSE:SNX)

Empowered Funds LLC acquired a new stake in TD SYNNEX Co. (NYSE:SNX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 66,341 shares of the business services provider's stock, valued at approximately $7,780,000. Empowered Funds LLC owned approximately 0.08% of TD SYNNEX at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bartlett & CO. Wealth Management LLC boosted its stake in shares of TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of TD SYNNEX in the 3rd quarter valued at about $30,000. UMB Bank n.a. boosted its stake in shares of TD SYNNEX by 99.3% in the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider's stock valued at $35,000 after purchasing an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of TD SYNNEX in the 3rd quarter valued at about $37,000. Finally, Point72 DIFC Ltd bought a new position in shares of TD SYNNEX in the 3rd quarter valued at about $55,000. Institutional investors and hedge funds own 84.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com lowered shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Friday, February 7th. Barclays lifted 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. Cfra raised shares of TD SYNNEX from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. JPMorgan Chase & Co. lifted their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $144.38.

Insider Activity

In other news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of the business's stock in a transaction 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 in the company, valued at approximately $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,289 shares of company stock worth $3,639,500 over the last ninety days. Insiders own 1.90% of the company's stock.

TD SYNNEX Stock Up 1.9 %

Shares of NYSE SNX traded up $2.65 during midday trading on Friday, reaching $144.25. The company's stock had a trading volume of 463,144 shares, compared to its average volume of 679,725. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a fifty-two week low of $99.95 and a fifty-two week high of $144.48. The stock has a market capitalization of $12.17 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.06 and a beta of 1.49. The stock has a 50 day simple moving average of $130.53 and a 200-day simple moving average of $122.33.

TD SYNNEX Increases Dividend

The firm also recently disclosed 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 of this dividend was Friday, January 24th. This is an increase from TD SYNNEX's previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.22%. TD SYNNEX's dividend payout ratio (DPR) is 22.11%.

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.