Ninety One UK Ltd Has $277.32 Million Stock Position in TD SYNNEX Co. (NYSE:SNX)

Ninety One UK Ltd boosted its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 75.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,364,563 shares of the business services provider's stock after buying an additional 1,016,251 shares during the quarter. Ninety One UK Ltd owned approximately 2.78% of TD SYNNEX worth $277,316,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of SNX. Bartlett & CO. Wealth Management LLC raised its holdings in shares of TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in TD SYNNEX in the 3rd quarter valued at $30,000. UMB Bank n.a. boosted its stake in shares of TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider's stock worth $35,000 after buying an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of TD SYNNEX in the 3rd quarter valued at about $37,000. Finally, Point72 DIFC Ltd bought a new position in TD SYNNEX in the third quarter valued at approximately $55,000. Institutional investors own 84.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on TD SYNNEX from $135.00 to $150.00 and gave the company a "neutral" rating in a report on Monday, January 13th. Royal Bank of Canada reissued an "outperform" rating and issued a $140.00 price objective on shares of TD SYNNEX in a research report on Wednesday, January 15th. Barclays raised their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an "equal weight" rating in a research note on Monday, January 13th. Cfra raised TD SYNNEX from a "hold" rating to a "buy" rating and boosted their price target for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Finally, StockNews.com cut TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, TD SYNNEX presently has a consensus rating of "Moderate Buy" and an average target price of $144.38.

TD SYNNEX Stock Performance

Shares of NYSE SNX traded down $0.68 during trading hours on Friday, reaching $142.78. 671,866 shares of the stock were exchanged, compared to its average volume of 724,190. The firm has a market capitalization of $12.09 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 1.06 and a beta of 1.49. The stock's fifty day simple moving average is $128.51 and its 200 day simple moving average is $121.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX Co. has a 52 week low of $98.70 and a 52 week high of $144.27.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were issued 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 dividend yield of 1.23%. This is an increase from TD SYNNEX's previous quarterly dividend of $0.40. TD SYNNEX's dividend payout ratio (DPR) is currently 22.11%.

Insider Activity

In other news, Director Richard T. Hume sold 20,000 shares of the company's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of the sale, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the completion of the transaction, the chief financial officer now owns 48,362 shares in the company, valued at $5,858,089.06. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,289 shares of company stock valued at $3,639,500. 1.90% of the stock is owned by company insiders.

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.