Anchor Capital Advisors LLC Reduces Position in TD SYNNEX Co. (NYSE:SNX)

Anchor Capital Advisors LLC decreased its position in shares of TD SYNNEX Co. (NYSE:SNX) by 3.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 393,484 shares of the business services provider’s stock after selling 16,153 shares during the quarter. TD SYNNEX comprises 1.3% of Anchor Capital Advisors LLC’s holdings, making the stock its 22nd biggest position. Anchor Capital Advisors LLC’s holdings in TD SYNNEX were worth $46,148,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its position in TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after acquiring an additional 1,154,651 shares during the period. JPMorgan Chase & Co. increased its holdings 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. Ninety One UK Ltd raised its stake in shares of TD SYNNEX by 75.4% during the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after purchasing an additional 1,016,251 shares during the last quarter. State Street Corp lifted its holdings in shares of TD SYNNEX by 0.7% during the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock worth $262,943,000 after purchasing an additional 15,995 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in TD SYNNEX by 39.0% in the 3rd quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider’s stock valued at $99,123,000 after buying an additional 231,715 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

NYSE SNX opened at $137.89 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $11.63 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. The business’s 50-day moving average price is $134.15 and its 200 day moving average price is $124.11. TD SYNNEX Co. has a twelve month low of $101.21 and a twelve month high of $145.10.

TD SYNNEX Increases Dividend

The company also recently disclosed 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. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.28%. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 24th. TD SYNNEX’s dividend payout ratio is presently 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 that occurred 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 transaction, the director now directly owns 4,856 shares of the company’s stock, valued at $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the 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 of the company’s stock, valued at $13,065,229.60. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,289 shares of company stock valued at $3,639,500. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on SNX. Royal Bank of Canada raised their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Barclays increased 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. JPMorgan Chase & Co. lifted their price target on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus target price 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.