Martin & Co. Inc. TN Sells 1,291 Shares of TD SYNNEX Co. (NYSE:SNX)

Martin & Co. Inc. TN decreased its position in shares of TD SYNNEX Co. (NYSE:SNX) by 4.2% in the 4th quarter, Holdings Channel reports. The firm owned 29,540 shares of the business services provider’s stock after selling 1,291 shares during the quarter. Martin & Co. Inc. TN’s holdings in TD SYNNEX were worth $3,464,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SNX. Bartlett & CO. Wealth Management LLC raised its holdings in TD SYNNEX by 345.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of TD SYNNEX in the 3rd quarter valued at $30,000. UMB Bank n.a. increased its stake in shares of TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 140 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of TD SYNNEX in the 3rd quarter valued at $55,000. Finally, Blue Trust Inc. increased its stake in shares of TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 129 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

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

TD SYNNEX Price Performance

SNX opened at $144.25 on Monday. The firm has a market cap of $12.21 billion, a P/E ratio of 18.12, a PEG ratio of 1.06 and a beta of 1.49. The firm has a 50-day moving average of $130.53 and a 200 day moving average of $122.38. 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 fifty-two week low of $99.95 and a fifty-two week high of $144.48.

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 given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Friday, January 24th. 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%.

Insiders Place Their Bets

In other news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ann F. Vezina sold 839 shares of the 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 sale, the director now directly 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 sold 29,289 shares of company stock worth $3,639,500 over the last quarter. 1.90% of the stock is currently owned by company insiders.

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.