Empowered Funds LLC Purchases Shares of 66,341 TD SYNNEX Co. (NYSE:SNX)

Empowered Funds LLC acquired a new position in TD SYNNEX Co. (NYSE:SNX) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 66,341 shares of the business services provider’s stock, valued at approximately $7,780,000. Empowered Funds LLC owned 0.08% of TD SYNNEX at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC raised its holdings 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 during the period. Ninety One UK Ltd raised its stake in shares of 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 acquiring an additional 1,016,251 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of TD SYNNEX by 37.0% during 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 acquiring an additional 813,634 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in TD SYNNEX by 560.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock worth $44,639,000 after purchasing an additional 315,424 shares during the period. Finally, Lord Abbett & CO. LLC increased its holdings 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 purchasing an additional 231,715 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SNX. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research report on Wednesday, January 15th. Barclays boosted their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. raised their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Finally, Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.38.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the business’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 sale, the chief financial officer now owns 48,362 shares in the company, valued at $5,858,089.06. The trade was a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the transaction, the director now owns 4,856 shares in the company, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,289 shares of company stock worth $3,639,500 over the last quarter. 1.90% of the stock is owned by corporate insiders.

TD SYNNEX Price Performance

Shares of SNX stock opened at $143.32 on Tuesday. The firm has a market cap of $12.13 billion, a P/E ratio of 18.00, a P/E/G ratio of 1.06 and a beta of 1.49. The firm has a fifty day moving average of $128.94 and a two-hundred day moving average of $121.70. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. TD SYNNEX Co. has a 1-year low of $98.70 and a 1-year high of $144.27.

TD SYNNEX Increases Dividend

The company 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. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.23%. The ex-dividend date was Friday, January 24th. TD SYNNEX’s payout ratio is currently 22.11%.

TD SYNNEX 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.