Zurcher Kantonalbank Zurich Cantonalbank Buys 2,969 Shares of TD SYNNEX Co. (NYSE:SNX)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 18.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,974 shares of the business services provider’s stock after acquiring an additional 2,969 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TD SYNNEX were worth $2,225,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. FMR LLC boosted its stake in shares of TD SYNNEX by 18.4% during the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after acquiring an additional 1,154,651 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 813,634 shares during the period. Ninety One UK Ltd boosted its stake in TD SYNNEX by 75.4% during the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after purchasing an additional 1,016,251 shares during the period. State Street Corp boosted its stake in TD SYNNEX by 0.7% during the 3rd quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock valued at $262,943,000 after purchasing an additional 15,995 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in TD SYNNEX by 39.0% during the 3rd quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider’s stock valued at $99,123,000 after purchasing an additional 231,715 shares during the period. Institutional investors own 84.00% of the company’s stock.

Insider Transactions at TD SYNNEX

In related news, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the completion of the sale, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $23,681,372. This trade represents a 3.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction on 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 $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,172 shares of company stock valued at $6,342,766. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SNX shares. JPMorgan Chase & Co. increased their target price on 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 increased their target price on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Barclays increased their target price on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” 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 objective for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Finally, StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.50.

TD SYNNEX Trading Up 1.6 %

Shares of SNX opened at $127.21 on Monday. TD SYNNEX Co. has a 1 year low of $102.23 and a 1 year high of $145.10. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $136.81 and a 200-day simple moving average of $125.11. The stock has a market cap of $10.73 billion, a PE ratio of 15.98, a PEG ratio of 1.06 and a beta of 1.51.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were issued a $0.44 dividend. The ex-dividend date was Friday, January 24th. This is a boost 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 1.38%. TD SYNNEX’s dividend payout ratio is presently 22.11%.

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.