Telemark Asset Management LLC Makes New $5.86 Million Investment in TD SYNNEX Co. (NYSE:SNX)

Telemark Asset Management LLC acquired a new stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 50,000 shares of the business services provider's stock, valued at approximately $5,864,000. Telemark Asset Management LLC owned 0.06% of TD SYNNEX at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc boosted its position in TD SYNNEX by 4.1% during the 3rd quarter. Atria Investments Inc now owns 2,862 shares of the business services provider's stock worth $344,000 after acquiring an additional 112 shares during the period. Crossmark Global Holdings Inc. boosted its position in TD SYNNEX by 15.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,964 shares of the business services provider's stock worth $716,000 after acquiring an additional 777 shares during the period. GSA Capital Partners LLP boosted its position in TD SYNNEX by 6.3% during the 3rd quarter. GSA Capital Partners LLP now owns 3,952 shares of the business services provider's stock worth $475,000 after acquiring an additional 233 shares during the period. Victory Capital Management Inc. boosted its position in TD SYNNEX by 24.9% during the 3rd quarter. Victory Capital Management Inc. now owns 414,662 shares of the business services provider's stock worth $49,793,000 after acquiring an additional 82,670 shares during the period. Finally, KBC Group NV boosted its position in TD SYNNEX by 159.4% during the 3rd quarter. KBC Group NV now owns 4,573 shares of the business services provider's stock worth $549,000 after acquiring an additional 2,810 shares during the period. Institutional investors and hedge funds own 84.00% of the company's stock.

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TD SYNNEX Trading Up 1.6 %

Shares of NYSE SNX traded up $1.97 during mid-day trading on Friday, hitting $127.21. 590,545 shares of the company traded hands, compared to its average volume of 725,076. TD SYNNEX Co. has a 1 year low of $102.23 and a 1 year high of $145.10. The stock has a market capitalization of $10.73 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.06 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average of $136.81 and a two-hundred day moving average of $125.09.

TD SYNNEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were paid a $0.44 dividend. 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 1.38%. The ex-dividend date of this dividend was Friday, January 24th. TD SYNNEX's dividend payout ratio is currently 22.11%.

Insider Buying and Selling

In related news, Director Ann F. Vezina sold 839 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the sale, the director now directly owns 4,856 shares of the company's stock, valued at approximately $660,804.48. This represents a 14.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 48,362 shares of the company's stock, valued at approximately $5,858,089.06. This represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,172 shares of company stock valued at $6,342,766. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Cfra upgraded TD SYNNEX from a "hold" rating to a "buy" rating and upped their price objective for the company from $122.00 to $147.00 in a report on Friday, January 10th. Royal Bank of Canada upped their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an "outperform" rating in a report on Friday, February 21st. StockNews.com lowered TD SYNNEX from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Barclays upped their price objective on TD SYNNEX from $132.00 to $148.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. upped 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $147.50.

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.