New York Life Investment Management LLC Sells 733 Shares of TD SYNNEX Co. (NYSE:SNX)

New York Life Investment Management LLC lowered its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 8.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,964 shares of the business services provider’s stock after selling 733 shares during the period. New York Life Investment Management LLC’s holdings in TD SYNNEX were worth $934,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SNX. Bartlett & CO. Wealth Management LLC lifted its stake in shares of TD SYNNEX by 345.1% in 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 period. UMB Bank n.a. grew its holdings in TD SYNNEX by 48.4% during the 4th 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 in the last quarter. Point72 DIFC Ltd purchased a new stake in TD SYNNEX during the 3rd quarter valued at approximately $55,000. Blue Trust Inc. boosted its position in shares of TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 129 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of TD SYNNEX by 31.9% during the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the sale, the chief executive officer now owns 165,604 shares in the company, valued at approximately $23,681,372. This represents a 3.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total value of $182,906.30. Following the transaction, the chief financial officer now owns 48,362 shares in the company, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,289 shares of company stock worth $3,639,500 over the last quarter. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and increased their target price for the company from $122.00 to $147.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. lifted their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Barclays lifted 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. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Royal Bank of Canada boosted their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $147.50.

TD SYNNEX Stock Performance

SNX opened at $134.85 on Tuesday. TD SYNNEX Co. has a 52-week low of $102.23 and a 52-week high of $145.10. 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 company has a market cap of $11.38 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. The firm’s 50-day moving average price is $134.90 and its 200-day moving average price is $124.56.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were given a $0.44 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a yield of 1.31%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio is currently 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.