Thrivent Financial for Lutherans Increases Stock Position in TD SYNNEX Co. (NYSE:SNX)

Thrivent Financial for Lutherans raised its stake in TD SYNNEX Co. (NYSE:SNX - Free Report) by 92.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 715,603 shares of the business services provider's stock after acquiring an additional 343,856 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.85% of TD SYNNEX worth $83,926,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new stake in shares of TD SYNNEX in the fourth quarter valued at approximately $5,158,000. Pathstone Holdings LLC raised its position in shares of TD SYNNEX by 45.2% in the third quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider's stock valued at $2,197,000 after purchasing an additional 5,698 shares during the period. JPMorgan Chase & Co. raised its position in shares of TD SYNNEX by 37.0% in the third 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 during the period. IFP Advisors Inc raised its position in shares of TD SYNNEX by 976.6% in the fourth quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider's stock valued at $119,000 after purchasing an additional 918 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of TD SYNNEX in the fourth quarter valued at approximately $2,260,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of the company'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 completion of the sale, the chief executive officer now directly owns 165,604 shares of the company's stock, valued at $23,681,372. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock valued at $6,353,261 in the last quarter. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SNX. JPMorgan Chase & Co. boosted their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, January 13th. Barclays upped their target price 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. Cfra raised shares of TD SYNNEX from a "hold" rating to a "buy" rating and upped their target price for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Royal Bank of Canada upped their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Finally, StockNews.com raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $149.75.

TD SYNNEX Price Performance

SNX stock traded down $1.81 during midday trading on Friday, reaching $127.77. The company had a trading volume of 1,808,968 shares, compared to its average volume of 729,836. 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 Co. has a 1 year low of $104.93 and a 1 year high of $145.10. The company has a market capitalization of $10.78 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.06 and a beta of 1.51. The firm has a 50-day moving average price of $137.36 and a 200-day moving average price of $125.40.

TD SYNNEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Friday, January 24th. This is a boost from TD SYNNEX's previous quarterly dividend of $0.40. TD SYNNEX's payout ratio is currently 22.11%.

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.