TD SYNNEX Co. (NYSE:SNX) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its stake in TD SYNNEX Co. (NYSE:SNX - Free Report) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,042 shares of the business services provider's stock after selling 2,100 shares during the period. Handelsbanken Fonder AB's holdings in TD SYNNEX were worth $2,351,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. FMR LLC lifted its position in TD SYNNEX by 18.4% in the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider's stock valued at $891,665,000 after purchasing an additional 1,154,651 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock valued at $361,707,000 after buying an additional 813,634 shares during the period. Ninety One UK Ltd lifted its holdings in shares of TD SYNNEX by 75.4% in the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider's stock valued at $277,316,000 after buying an additional 1,016,251 shares during the period. State Street Corp boosted its stake in shares of 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 valued at $262,943,000 after buying an additional 15,995 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in TD SYNNEX by 39.0% during the third quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider's stock worth $99,123,000 after acquiring an additional 231,715 shares during the period. Hedge funds and other institutional investors own 84.00% of the company's stock.

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Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now owns 111,080 shares of the company's stock, 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 SEC, which is accessible through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the sale, the chief executive officer now directly owns 165,604 shares of the company's stock, valued at $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,289 shares of company stock valued at $3,639,500. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SNX. Cfra upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating and boosted their target price for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Royal Bank of Canada boosted their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. 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. StockNews.com downgraded shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on TD SYNNEX from $135.00 to $150.00 and gave the stock a "neutral" rating in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.50.

TD SYNNEX Price Performance

Shares of SNX traded down $0.48 during mid-day trading on Friday, reaching $137.49. 624,593 shares of the company's stock were exchanged, compared to its average volume of 631,009. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 52-week low of $102.23 and a 52-week high of $145.10. The company has a market cap of $11.60 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.06 and a beta of 1.49. The company has a 50-day simple moving average of $134.15 and a two-hundred day simple moving average of $124.11.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a yield of 1.28%. This is a positive change from TD SYNNEX's previous quarterly dividend of $0.40. TD SYNNEX's dividend payout ratio (DPR) is 22.11%.

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.