Mutual of America Capital Management LLC Grows Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Mutual of America Capital Management LLC lifted its stake in TD SYNNEX Co. (NYSE:SNX) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,583 shares of the business services provider’s stock after purchasing an additional 578 shares during the period. Mutual of America Capital Management LLC’s holdings in TD SYNNEX were worth $3,399,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNX. Nomura Asset Management Co. Ltd. boosted its holdings in TD SYNNEX by 95.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 410 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 200 shares during the period. Advisors Asset Management Inc. purchased a new position in TD SYNNEX in the first quarter valued at $51,000. Covestor Ltd boosted its holdings in TD SYNNEX by 91.5% in the first quarter. Covestor Ltd now owns 697 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 333 shares during the period. Gladius Capital Management LP boosted its holdings in TD SYNNEX by 50.8% in the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after purchasing an additional 250 shares during the period. Finally, Signaturefd LLC boosted its holdings in TD SYNNEX by 28.9% in the third quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock valued at $95,000 after purchasing an additional 214 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Stock Up 1.7 %

SNX opened at $114.96 on Thursday. The business’s 50-day simple moving average is $107.05 and its 200-day simple moving average is $102.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22. TD SYNNEX Co. has a one year low of $86.30 and a one year high of $119.87. The stock has a market capitalization of $10.24 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 1.06 and a beta of 1.64.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Thursday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is currently 23.22%.

Insider Transactions at TD SYNNEX

In related news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the transaction, the insider now owns 134,706 shares in the company, valued at approximately $15,908,778.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $105.57, for a total value of $1,055,700.00. Following the transaction, the chief executive officer now owns 229,363 shares in the company, valued at approximately $24,213,851.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the transaction, the insider now owns 134,706 shares in the company, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,355 shares of company stock worth $4,930,385. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SNX. Barrington Research lifted their price target on TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $118.00 price target (up from $110.00) on shares of TD SYNNEX in a report on Wednesday, March 27th. Bank of America lifted their price target on TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, Cfra lifted their price target on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a report on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $121.82.

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.