HighTower Advisors LLC Buys 2,694 Shares of TD SYNNEX Co. (NYSE:SNX)

HighTower Advisors LLC lifted its holdings in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,957 shares of the business services provider's stock after acquiring an additional 2,694 shares during the quarter. HighTower Advisors LLC owned approximately 0.13% of TD SYNNEX worth $12,661,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealthfront Advisers LLC bought a new position in shares of TD SYNNEX during the fourth quarter valued at approximately $1,923,000. River Road Asset Management LLC boosted its position in shares of TD SYNNEX by 0.5% during the fourth quarter. River Road Asset Management LLC now owns 869,367 shares of the business services provider's stock valued at $101,959,000 after buying an additional 4,220 shares during the last quarter. Riverbend Wealth Management LLC purchased a new stake in shares of TD SYNNEX during the fourth quarter valued at $435,000. Moran Wealth Management LLC grew its stake in shares of TD SYNNEX by 6.7% during the 4th quarter. Moran Wealth Management LLC now owns 37,954 shares of the business services provider's stock valued at $4,451,000 after purchasing an additional 2,393 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of TD SYNNEX by 18.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,974 shares of the business services provider's stock valued at $2,225,000 after purchasing an additional 2,969 shares during the period. Institutional investors own 84.00% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on TD SYNNEX from $135.00 to $150.00 and gave the company a "neutral" rating in a research note on Monday, January 13th. Barrington Research lifted their price objective on TD SYNNEX from $138.00 to $156.00 and gave the company an "outperform" rating in a research report on Thursday. Royal Bank of Canada lifted their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Cfra raised TD SYNNEX from a "hold" rating to a "buy" rating and lifted their price objective for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Finally, Barclays lifted their price objective on TD SYNNEX from $132.00 to $148.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, TD SYNNEX has an average rating of "Moderate Buy" and an average price target of $149.75.

TD SYNNEX Price Performance

NYSE SNX traded down $2.44 during trading hours on Thursday, reaching $129.51. The company's stock had a trading volume of 761,917 shares, compared to its average volume of 723,402. The firm's 50-day moving average price is $137.34 and its 200-day moving average price is $125.26. 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 1 year low of $102.77 and a 1 year high of $145.10. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.06 and a beta of 1.51.

TD SYNNEX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were issued a $0.44 dividend. The ex-dividend date was Friday, January 24th. This is a boost from TD SYNNEX's previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.36%. TD SYNNEX's payout ratio is currently 22.11%.

Insider Buying and Selling

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the sale, the chief financial officer now owns 49,843 shares of the company's stock, valued at $6,383,891.44. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $23,681,372. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,172 shares of company stock valued at $6,353,261. Corporate insiders own 1.00% of the company's stock.

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.