Denali Advisors LLC Sells 100 Shares of TD SYNNEX Co. (NYSE:SNX)

Denali Advisors LLC cut its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,012 shares of the business services provider’s stock after selling 100 shares during the quarter. Denali Advisors LLC’s holdings in TD SYNNEX were worth $471,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. CIBC Asset Management Inc lifted its position in TD SYNNEX by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after purchasing an additional 86 shares during the last quarter. Atria Investments Inc raised its position in shares of TD SYNNEX by 4.1% during the 3rd quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock valued at $344,000 after buying an additional 112 shares in the last quarter. Highland Capital Management LLC lifted its holdings in shares of TD SYNNEX by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider’s stock valued at $223,000 after acquiring an additional 116 shares during the last quarter. Global Retirement Partners LLC grew its position in TD SYNNEX by 31.9% in the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock worth $56,000 after acquiring an additional 116 shares in the last quarter. Finally, Meixler Investment Management Ltd. increased its stake in TD SYNNEX by 2.0% during the fourth quarter. Meixler Investment Management Ltd. now owns 5,932 shares of the business services provider’s stock worth $696,000 after acquiring an additional 118 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Trading Down 1.3 %

NYSE SNX opened at $137.89 on Friday. The stock has a market cap of $11.63 billion, a PE ratio of 17.32, a PEG ratio of 1.06 and a beta of 1.49. TD SYNNEX Co. has a 12 month low of $101.21 and a 12 month high of $145.10. The company’s 50-day moving average price is $134.15 and its 200-day moving average price is $124.11. 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 business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were paid a $0.44 dividend. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Friday, January 24th. TD SYNNEX’s dividend payout ratio is currently 22.11%.

Analyst Ratings Changes

SNX has been the subject of several analyst reports. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and raised their price objective for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Barclays raised their price target on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada upped their price target 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

Insider Transactions at TD SYNNEX

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 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. This trade represents a 15.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 sale, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, 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.

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.