Allspring Global Investments Holdings LLC Boosts Stake in TD SYNNEX Co. (NYSE:SNX)

Allspring Global Investments Holdings LLC increased its position in TD SYNNEX Co. (NYSE:SNX) by 325.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 347,451 shares of the business services provider’s stock after purchasing an additional 265,737 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.41% of TD SYNNEX worth $40,488,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Pathstone Holdings LLC boosted its holdings in shares of TD SYNNEX by 45.2% during the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock valued at $2,197,000 after buying an additional 5,698 shares in the last quarter. JPMorgan Chase & Co. lifted its position in 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 during the period. Stratos Investment Management LLC boosted its stake in TD SYNNEX by 5.6% during the third quarter. Stratos Investment Management LLC now owns 28,115 shares of the business services provider’s stock worth $3,376,000 after acquiring an additional 1,486 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of TD SYNNEX during the fourth quarter valued at approximately $2,260,000. Finally, iSAM Funds UK Ltd bought a new position in shares of TD SYNNEX during the third quarter valued at approximately $500,000. 84.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the sale, the chief executive officer now owns 165,604 shares of the company’s stock, valued at $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ann F. Vezina sold 839 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the transaction, the director now directly owns 4,856 shares in the company, valued at approximately $660,804.48. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,289 shares of company stock valued at $3,639,500. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

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

TD SYNNEX Price Performance

SNX opened at $144.25 on Friday. The company’s 50-day simple moving average is $130.53 and its two-hundred day simple moving average is $122.33. TD SYNNEX Co. has a 52-week low of $99.95 and a 52-week high of $144.48. The stock has a market capitalization of $12.17 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.06 and a beta of 1.49. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 annualized dividend and a yield of 1.22%. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio (DPR) 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.