KLP Kapitalforvaltning AS Invests $2.77 Million in TD SYNNEX Co. (NYSE:SNX)

KLP Kapitalforvaltning AS bought a new stake in shares of TD SYNNEX Co. (NYSE:SNX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,600 shares of the business services provider’s stock, valued at approximately $2,768,000.

Other large investors have also added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in shares of TD SYNNEX by 0.4% in the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock worth $2,607,000 after purchasing an additional 78 shares during the period. Amundi lifted its holdings in TD SYNNEX by 22.3% in the fourth quarter. Amundi now owns 560 shares of the business services provider’s stock worth $66,000 after buying an additional 102 shares during the period. Highland Capital Management LLC boosted its position in TD SYNNEX by 6.5% during the 4th quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider’s stock valued at $223,000 after acquiring an additional 116 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of TD SYNNEX by 31.9% during the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock worth $56,000 after acquiring an additional 116 shares during the period. Finally, Meixler Investment Management Ltd. raised its position in shares of TD SYNNEX by 2.0% in the 4th quarter. Meixler Investment Management Ltd. now owns 5,932 shares of the business services provider’s stock worth $696,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays lifted their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Royal Bank of Canada upped their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Barrington Research lifted their price target on shares of TD SYNNEX from $138.00 to $156.00 and gave the company an “outperform” rating in a research report on Thursday, March 20th. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and upped their price objective for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. lifted their target price 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. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and an average price target of $149.75.

TD SYNNEX Trading Down 0.9 %

Shares of NYSE SNX opened at $125.43 on Thursday. The firm’s 50 day moving average price is $136.91 and its 200-day moving average price is $125.70. TD SYNNEX Co. has a 52-week low of $107.84 and a 52-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. The company has a market cap of $10.58 billion, a PE ratio of 15.76, a P/E/G ratio of 1.06 and a beta of 1.51.

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 paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.40%. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. 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 TD SYNNEX stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the completion of the sale, the director now directly owns 65,480 shares in the company, valued at $8,897,422.40. The trade was a 23.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the transaction, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. This trade represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,172 shares of company stock valued at $6,353,261. Corporate insiders own 1.00% of the company’s stock.

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.