Sage Investment Counsel LLC Buys New Shares in TD SYNNEX Co. (NYSE:SNX)

Sage Investment Counsel LLC bought a new stake in TD SYNNEX Co. (NYSE:SNX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,488 shares of the business services provider’s stock, valued at approximately $644,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised 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 in the last quarter. Ninety One UK Ltd raised its stake in TD SYNNEX by 75.4% in the fourth 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 in the last quarter. JPMorgan Chase & Co. raised its stake in 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 valued at $361,707,000 after buying an additional 813,634 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in TD SYNNEX by 560.0% in the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock valued at $44,639,000 after buying an additional 315,424 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in TD SYNNEX by 325.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 347,451 shares of the business services provider’s stock valued at $40,488,000 after buying an additional 265,737 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Stock Down 0.3 %

SNX opened at $137.49 on Friday. The business’s 50-day simple moving average is $134.56 and its 200-day simple moving average is $124.28. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX Co. has a one year low of $102.23 and a one year high of $145.10. The stock has a market capitalization of $11.60 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49.

TD SYNNEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.28%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.11%.

Insider Buying and Selling

In related news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated 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 owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following 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 29,289 shares of company stock valued at $3,639,500 over the last quarter. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barclays raised their price target 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. raised their price target on 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 cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Tuesday. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Finally, Royal Bank of Canada lifted their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.50.

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.