Stratos Investment Management LLC Purchases 8,366 Shares of TD SYNNEX Co. (NYSE:SNX)

Stratos Investment Management LLC raised its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 29.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,481 shares of the business services provider's stock after purchasing an additional 8,366 shares during the quarter. Stratos Investment Management LLC's holdings in TD SYNNEX were worth $4,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Ninety One SA PTY Ltd lifted its position in TD SYNNEX by 95.6% during the fourth quarter. Ninety One SA PTY Ltd now owns 43,882 shares of the business services provider's stock valued at $5,146,000 after purchasing an additional 21,444 shares during the last quarter. Ninety One UK Ltd raised its stake in shares of TD SYNNEX by 75.4% during the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider's stock worth $277,316,000 after acquiring an additional 1,016,251 shares in the last quarter. Verity Asset Management Inc. purchased a new position in shares of TD SYNNEX during the fourth quarter worth approximately $267,000. KG&L Capital Management LLC raised its stake in shares of TD SYNNEX by 170.0% during the fourth quarter. KG&L Capital Management LLC now owns 6,520 shares of the business services provider's stock worth $765,000 after acquiring an additional 4,105 shares in the last quarter. Finally, Highland Capital Management LLC raised its stake in shares of TD SYNNEX by 6.5% during the fourth quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider's stock worth $223,000 after acquiring an additional 116 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

Insider Activity at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction 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 owns 111,080 shares in the company, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 owns 165,604 shares in the company, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,289 shares of company stock worth $3,639,500 over the last quarter. Corporate insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on SNX. StockNews.com downgraded shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Friday. Royal Bank of Canada reissued an "outperform" rating and set a $140.00 price target on shares of TD SYNNEX in a research note on Wednesday, January 15th. Barclays lifted their price target 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 target price for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. lifted their target price 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.38.

TD SYNNEX Trading Down 0.5 %

NYSE:SNX traded down $0.68 during trading hours on Friday, hitting $142.78. The company had a trading volume of 671,866 shares, compared to its average volume of 724,190. The company has a market capitalization of $12.09 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. The stock has a 50-day moving average price of $128.51 and a 200 day moving average price of $121.44. TD SYNNEX Co. has a 52 week low of $98.70 and a 52 week high of $144.27. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

TD SYNNEX Increases Dividend

The business 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 of this dividend was Friday, January 24th. This represents a $1.76 annualized dividend and a yield of 1.23%. This is a boost from TD SYNNEX's previous quarterly dividend of $0.40. TD SYNNEX's payout ratio is 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.