Proficio Capital Partners LLC Makes New Investment in TD SYNNEX Co. (NYSE:SNX)

Proficio Capital Partners LLC bought a new stake in TD SYNNEX Co. (NYSE:SNX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 43,980 shares of the business services provider’s stock, valued at approximately $5,158,000. Proficio Capital Partners LLC owned about 0.05% of TD SYNNEX as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in SNX. FMR LLC lifted its stake in TD SYNNEX by 18.4% in the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after buying an additional 1,154,651 shares during the last quarter. Ninety One UK Ltd increased its holdings in shares of TD SYNNEX by 75.4% in the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after acquiring an additional 1,016,251 shares during the period. JPMorgan Chase & Co. raised its position in TD SYNNEX by 37.0% in the 3rd 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 last quarter. Thrivent Financial for Lutherans boosted its stake in TD SYNNEX by 560.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock worth $44,639,000 after purchasing an additional 315,424 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in TD SYNNEX by 325.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 347,451 shares of the business services provider’s stock worth $40,488,000 after purchasing an additional 265,737 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the firm’s 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,289 shares of company stock worth $3,639,500 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SNX shares. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Royal Bank of Canada upped their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Barclays lifted their target price on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. upped their price target on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Finally, Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and increased their price target for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.50.

TD SYNNEX Stock Down 1.9 %

TD SYNNEX stock opened at $134.85 on Tuesday. The stock’s 50 day moving average price is $134.90 and its 200 day moving average price is $124.56. 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 $11.38 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

TD SYNNEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.11%.

TD SYNNEX 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.