TD SYNNEX Co. (NYSE:SNX) Stock Position Lowered by River Road Asset Management LLC

River Road Asset Management LLC lessened its position in TD SYNNEX Co. (NYSE:SNX) by 7.4% in the 4th quarter, Holdings Channel reports. The fund owned 1,160,486 shares of the business services provider’s stock after selling 92,219 shares during the period. TD SYNNEX makes up approximately 1.7% of River Road Asset Management LLC’s investment portfolio, making the stock its 12th biggest holding. River Road Asset Management LLC’s holdings in TD SYNNEX were worth $124,880,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. lifted its position in shares of TD SYNNEX by 95.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 410 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 200 shares in the last quarter. Advisors Asset Management Inc. acquired a new position in TD SYNNEX in the 1st quarter valued at approximately $51,000. Covestor Ltd increased its stake in TD SYNNEX by 91.5% in the 1st quarter. Covestor Ltd now owns 697 shares of the business services provider’s stock valued at $72,000 after buying an additional 333 shares during the period. Gladius Capital Management LP increased its stake in TD SYNNEX by 50.8% in the 3rd quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after buying an additional 250 shares during the period. Finally, Signaturefd LLC increased its stake in TD SYNNEX by 28.9% in the 3rd quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock valued at $95,000 after buying an additional 214 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Transactions at TD SYNNEX

In other news, insider Michael Urban sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $105.00, for a total transaction of $525,000.00. Following the completion of the transaction, the insider now directly owns 26,386 shares of the company’s stock, valued at approximately $2,770,530. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Michael Urban sold 5,000 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $105.00, for a total transaction of $525,000.00. Following the completion of the sale, the insider now owns 26,386 shares in the company, valued at approximately $2,770,530. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. In the last three months, insiders sold 44,355 shares of company stock valued at $4,930,385. Company insiders own 1.90% of the company’s stock.

TD SYNNEX Stock Performance

TD SYNNEX stock traded up $1.92 during mid-day trading on Wednesday, reaching $114.94. The company had a trading volume of 1,460,277 shares, compared to its average volume of 973,674. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. TD SYNNEX Co. has a 52 week low of $86.30 and a 52 week high of $119.87. The company has a 50 day moving average of $106.73 and a 200-day moving average of $102.35. The firm has a market cap of $10.24 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.05 and a beta of 1.64.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, April 11th. TD SYNNEX’s payout ratio is 23.22%.

Analyst Ratings Changes

Several research analysts have weighed in on SNX shares. JPMorgan Chase & Co. upped their price objective on shares of TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Barrington Research upped their price objective on shares of TD SYNNEX from $122.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Barclays increased their price target on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 27th. UBS Group upgraded shares of TD SYNNEX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $115.00 to $145.00 in a research note on Tuesday. Finally, Cfra increased their price target on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research note on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, TD SYNNEX presently has an average rating of “Moderate Buy” and a consensus target price of $121.82.

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.