James Investment Research Inc. Purchases New Position in TD SYNNEX Co. (NYSE:SNX)

James Investment Research Inc. purchased a new stake in TD SYNNEX Co. (NYSE:SNX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,765 shares of the business services provider’s stock, valued at approximately $207,000.

Several other large investors have also added to or reduced their stakes in the business. FMR LLC lifted 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 in the last quarter. JPMorgan Chase & Co. increased its stake 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 buying an additional 813,634 shares during the last quarter. Ninety One UK Ltd increased its stake in 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 buying an additional 1,016,251 shares during the last quarter. State Street Corp increased its stake in TD SYNNEX by 0.7% in the 3rd quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock valued at $262,943,000 after buying an additional 15,995 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its stake 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. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Up 1.9 %

SNX opened at $144.25 on Monday. The company has a 50 day moving average of $130.53 and a 200 day moving average of $122.38. The company has a market cap of $12.21 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. TD SYNNEX Co. has a 12 month low of $99.95 and a 12 month high of $144.48. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46.

TD SYNNEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.22%. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

Insider Buying and Selling

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total transaction 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 approximately $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. In the last ninety days, insiders sold 29,289 shares of company stock valued at $3,639,500. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and increased their price objective for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Barclays increased their price objective on shares of 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. increased their price objective on shares of 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 upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and an average price target of $144.38.

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.