Victory Capital Management Inc. Trims Stock Position in TD SYNNEX Co. (NYSE:SNX)

Victory Capital Management Inc. decreased its holdings in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 21.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 325,228 shares of the business services provider's stock after selling 89,434 shares during the period. Victory Capital Management Inc. owned approximately 0.38% of TD SYNNEX worth $38,143,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC grew its position in TD SYNNEX by 345.1% during the 4th 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. UMB Bank n.a. grew its holdings 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 acquired a new position in shares of TD SYNNEX in the 3rd quarter valued at $55,000. Blue Trust Inc. boosted its position in TD SYNNEX by 37.7% in 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 raised its position in TD SYNNEX by 31.9% during the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock worth $56,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

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TD SYNNEX Price Performance

Shares of NYSE:SNX traded down $0.03 during midday trading on Friday, reaching $129.29. 599,235 shares of the company's stock traded hands, compared to its average volume of 723,210. The company has a fifty day simple moving average of $135.83 and a two-hundred day simple moving average of $124.92. TD SYNNEX Co. has a 1 year low of $102.23 and a 1 year high of $145.10. The company has a market cap of $10.91 billion, a P/E ratio of 16.24, a PEG ratio of 1.06 and a beta of 1.51. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.36%. This is a boost from TD SYNNEX's previous quarterly dividend of $0.40. TD SYNNEX's payout ratio is currently 22.11%.

Insider Buying and Selling

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the sale, the director now owns 4,856 shares of the company's stock, valued at $660,804.48. The trade was a 14.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the completion of the transaction, the director now directly owns 65,480 shares in the company, valued at approximately $8,897,422.40. This represents a 23.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock worth $6,342,766 in the last 90 days. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on SNX shares. StockNews.com downgraded shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Barclays upped their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a research note on Monday, January 13th. Royal Bank of Canada raised their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Cfra raised TD SYNNEX from a "hold" rating to a "buy" rating and boosted their price target for the company from $122.00 to $147.00 in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, TD SYNNEX currently has an average rating of "Moderate Buy" and an average target price of $147.50.

TD SYNNEX Company 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.