Anchor Capital Advisors LLC Trims Stake in TD SYNNEX Co. (NYSE:SNX)

Anchor Capital Advisors LLC cut its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 393,484 shares of the business services provider’s stock after selling 16,153 shares during the quarter. TD SYNNEX comprises approximately 1.3% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Anchor Capital Advisors LLC owned 0.46% of TD SYNNEX worth $46,148,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pathstone Holdings LLC boosted its stake in TD SYNNEX by 45.2% during the third quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after buying an additional 5,698 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after acquiring an additional 813,634 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of TD SYNNEX during the 4th quarter worth approximately $2,260,000. iSAM Funds UK Ltd acquired a new stake in TD SYNNEX in the 3rd quarter valued at approximately $500,000. Finally, Atom Investors LP raised its position in TD SYNNEX by 50.3% in the third quarter. Atom Investors LP now owns 43,777 shares of the business services provider’s stock valued at $5,257,000 after purchasing an additional 14,650 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Stock Down 1.3 %

SNX stock opened at $137.89 on Friday. The company’s 50 day moving average price is $134.15 and its 200 day moving average price is $124.11. The firm has a market capitalization of $11.63 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 1.06 and a beta of 1.49. TD SYNNEX Co. has a fifty-two week low of $101.21 and a fifty-two week high of $145.10. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.28%. TD SYNNEX’s dividend payout ratio is currently 22.11%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Tuesday. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and raised their target price for the company from $122.00 to $147.00 in a report on Friday, January 10th. Royal Bank of Canada boosted their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. raised 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. Finally, Barclays upped 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 note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

Insider Activity

In related news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,289 shares of company stock worth $3,639,500. 1.00% of the stock is currently owned by corporate insiders.

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.