Hillsdale Investment Management Inc. Grows Position in TD SYNNEX Co. (NYSE:SNX)

Hillsdale Investment Management Inc. increased its holdings in TD SYNNEX Co. (NYSE:SNX) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,030 shares of the business services provider’s stock after buying an additional 200 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in TD SYNNEX were worth $824,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pathstone Holdings LLC increased its position in shares of TD SYNNEX by 45.2% during the third quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after purchasing an additional 5,698 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in TD SYNNEX by 117.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,259 shares of the business services provider’s stock worth $151,000 after purchasing an additional 679 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of TD SYNNEX by 18.3% during the 3rd quarter. Intech Investment Management LLC now owns 16,748 shares of the business services provider’s stock worth $2,011,000 after purchasing an additional 2,589 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of TD SYNNEX by 9.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 44,882 shares of the business services provider’s stock worth $5,646,000 after purchasing an additional 3,995 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of TD SYNNEX by 51.3% in the third quarter. Cerity Partners LLC now owns 16,792 shares of the business services provider’s stock valued at $2,016,000 after purchasing an additional 5,691 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and upped their target price for the company from $122.00 to $147.00 in a report on Friday, January 10th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Royal Bank of Canada boosted their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Barclays lifted their target price on shares of 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. boosted their price target 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. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.75.

Insider Activity

In related news, Director Richard T. Hume sold 20,000 shares of the business’s 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 directly owns 111,080 shares in the company, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,172 shares of company stock worth $6,353,261. 1.00% of the stock is owned by corporate insiders.

TD SYNNEX Stock Performance

SNX stock opened at $127.77 on Monday. The firm has a market cap 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. TD SYNNEX Co. has a 12-month low of $104.93 and a 12-month high of $145.10. 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 stock’s 50 day simple moving average is $137.36 and its 200 day simple moving average is $125.47.

TD SYNNEX Increases Dividend

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

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.