Vestcor Inc Has $792,000 Stock Position in TD SYNNEX Co. (NYSE:SNX)

Vestcor Inc grew its position in TD SYNNEX Co. (NYSE:SNX) by 75.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,751 shares of the business services provider’s stock after buying an additional 2,897 shares during the quarter. Vestcor Inc’s holdings in TD SYNNEX were worth $792,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pathstone Holdings LLC boosted its holdings in shares of TD SYNNEX by 45.2% in the third quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after buying an additional 5,698 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after buying an additional 813,634 shares during the period. IFP Advisors Inc boosted its holdings in shares of TD SYNNEX by 976.6% in the fourth quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider’s stock worth $119,000 after buying an additional 918 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of TD SYNNEX during the fourth quarter worth approximately $2,260,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of TD SYNNEX by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider’s stock worth $59,512,000 after purchasing an additional 9,915 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the transaction, the director now owns 65,480 shares of the company’s stock, valued at $8,897,422.40. This trade represents a 23.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the completion of the transaction, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $23,681,372. This represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock valued at $6,342,766 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on SNX shares. JPMorgan Chase & Co. raised their price target 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. Royal Bank of Canada raised their price target 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. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their price target for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Barclays raised their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

TD SYNNEX Price Performance

NYSE SNX opened at $127.21 on Monday. 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 stock has a market capitalization of $10.73 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The company has a 50 day moving average price of $136.81 and a two-hundred day moving average price of $125.11. TD SYNNEX Co. has a 12-month low of $102.23 and a 12-month high of $145.10.

TD SYNNEX Increases Dividend

The firm 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. The ex-dividend date was Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.38%. TD SYNNEX’s payout ratio is 22.11%.

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.