Vestcor Inc Increases Stake in TD SYNNEX Co. (NYSE:SNX)

Vestcor Inc grew its position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 75.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,751 shares of the business services provider's stock after acquiring an additional 2,897 shares during the quarter. Vestcor Inc's holdings in TD SYNNEX were worth $792,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC boosted its position in shares of TD SYNNEX by 345.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock valued at $27,000 after buying an additional 176 shares during the last quarter. UMB Bank n.a. boosted its position in shares of TD SYNNEX by 48.4% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock valued at $50,000 after buying an additional 140 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of TD SYNNEX during the third quarter valued at approximately $55,000. Blue Trust Inc. boosted its position in shares of TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock valued at $55,000 after buying an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of TD SYNNEX by 31.9% during the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock valued at $56,000 after buying an additional 116 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

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Insider Buying and Selling

In other news, Director Richard T. Hume sold 20,000 shares of the 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 of the company's stock, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Patrick Zammit sold 6,823 shares of the company's stock in a transaction dated 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 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. Over the last quarter, insiders sold 49,172 shares of company stock worth $6,353,261. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SNX. Barrington Research boosted their price objective on TD SYNNEX from $138.00 to $156.00 and gave the stock an "outperform" rating in a research report on Thursday. Barclays boosted their price objective on TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Cfra raised TD SYNNEX from a "hold" rating to a "buy" rating and boosted their price objective 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 TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Finally, StockNews.com raised TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $149.75.

TD SYNNEX Stock Down 1.9 %

Shares of TD SYNNEX stock traded down $2.44 on Thursday, reaching $129.51. The company's stock had a trading volume of 761,963 shares, compared to its average volume of 723,402. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of 16.27, a P/E/G ratio of 1.06 and a beta of 1.51. The firm's fifty day simple moving average is $137.34 and its two-hundred day simple moving average is $125.26. TD SYNNEX Co. has a 52 week low of $102.77 and a 52 week high of $145.10. 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 Increases Dividend

The business 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. This is a positive change from TD SYNNEX's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.36%. TD SYNNEX's dividend payout ratio is currently 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.