Verity Asset Management Inc. Takes Position in TD SYNNEX Co. (NYSE:SNX)

Verity Asset Management Inc. bought a new position in TD SYNNEX Co. (NYSE:SNX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,277 shares of the business services provider's stock, valued at approximately $267,000.

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

Insider Activity at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total transaction 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 $5,858,089.06. The trade was a 3.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated 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 transaction, the director now owns 111,080 shares in the company, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,289 shares of company stock worth $3,639,500. Insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

SNX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a "neutral" rating in a report on Monday, January 13th. Cfra upgraded TD SYNNEX from a "hold" rating to a "buy" rating and lifted their price target for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Royal Bank of Canada reissued an "outperform" rating and set a $140.00 price objective on shares of TD SYNNEX in a research report on Wednesday, January 15th. StockNews.com downgraded shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Barclays increased 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. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $144.38.

TD SYNNEX Price Performance

Shares of SNX stock traded down $0.68 on Friday, reaching $142.78. The company's stock 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 price-to-earnings ratio of 17.94, a price-to-earnings-growth 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 current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 1 year low of $98.70 and a 1 year high of $144.27.

TD SYNNEX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were paid a dividend of $0.44 per share. 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. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.23%. 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.