TD SYNNEX Co. (NYSE:SNX) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lowered its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 13.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,580 shares of the business services provider's stock after selling 11,160 shares during the quarter. iA Global Asset Management Inc. owned 0.08% of TD SYNNEX worth $8,160,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC increased its holdings in TD SYNNEX by 18.4% in the 3rd 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 in the last quarter. Ninety One UK Ltd boosted its stake in shares of TD SYNNEX by 75.4% in the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider's stock valued at $277,316,000 after purchasing an additional 1,016,251 shares during the period. JPMorgan Chase & Co. grew its holdings in TD SYNNEX by 37.0% during 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 purchasing an additional 813,634 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in TD SYNNEX during the 4th quarter worth $47,094,000. Finally, Thrivent Financial for Lutherans increased its stake in TD SYNNEX by 92.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 715,603 shares of the business services provider's stock worth $83,926,000 after buying an additional 343,856 shares during the period. Institutional investors and hedge funds own 84.00% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SNX shares. JPMorgan Chase & Co. increased their target price on TD SYNNEX from $135.00 to $150.00 and gave the company a "neutral" rating in a research note on Monday, January 13th. Barclays raised their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. Royal Bank of Canada upped their target price 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. StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Tuesday, March 18th. Finally, Barrington Research boosted their price objective on TD SYNNEX from $138.00 to $156.00 and gave the company an "outperform" rating in a report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $149.75.

TD SYNNEX Stock Performance

SNX traded down $3.58 during trading on Tuesday, reaching $126.58. 1,002,709 shares of the company were exchanged, compared to its average volume of 730,160. TD SYNNEX Co. has a 52 week low of $104.93 and a 52 week high of $145.10. The stock has a market cap of $10.68 billion, a P/E ratio of 15.90, a PEG ratio of 1.06 and a beta of 1.51. 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 firm has a 50 day moving average of $137.31 and a 200 day moving average of $125.59.

TD SYNNEX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were given 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 annualized dividend and a yield of 1.39%. TD SYNNEX's dividend payout ratio (DPR) is currently 22.11%.

Insiders Place Their Bets

In other news, CEO Patrick Zammit sold 6,823 shares of the business's stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the firm's 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 completion of the sale, the director now owns 111,080 shares in the company, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,172 shares of company stock worth $6,353,261. Insiders own 1.00% of the company's stock.

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.