Benson Investment Management Company Inc. Raises Holdings in TD SYNNEX Co. (NYSE:SNX)

Benson Investment Management Company Inc. raised its stake in TD SYNNEX Co. (NYSE:SNX) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,360 shares of the business services provider’s stock after acquiring an additional 207 shares during the quarter. Benson Investment Management Company Inc.’s holdings in TD SYNNEX were worth $3,912,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Fulton Bank N.A. increased its holdings in shares of TD SYNNEX by 12.1% during the 4th quarter. Fulton Bank N.A. now owns 3,620 shares of the business services provider’s stock valued at $425,000 after purchasing an additional 392 shares in the last quarter. GAMMA Investing LLC grew its position in TD SYNNEX by 37.8% during the fourth quarter. GAMMA Investing LLC now owns 642 shares of the business services provider’s stock valued at $75,000 after buying an additional 176 shares during the period. JPMorgan Chase & Co. increased its holdings in TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after buying an additional 813,634 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of TD SYNNEX by 39.0% in the third quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider’s stock worth $99,123,000 after acquiring an additional 231,715 shares during the period. Finally, Brass Tax Wealth Management Inc. purchased a new stake in shares of TD SYNNEX during the 3rd quarter worth about $203,000. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Trading Down 0.9 %

Shares of SNX stock opened at $132.78 on Tuesday. TD SYNNEX Co. has a fifty-two week low of $98.70 and a fifty-two week high of $134.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The stock’s fifty day moving average is $120.48 and its two-hundred day moving average is $118.02. The firm has a market capitalization of $11.30 billion, a P/E ratio of 17.18, a PEG ratio of 1.14 and a beta of 1.46.

TD SYNNEX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, January 24th. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.33%. TD SYNNEX’s payout ratio is presently 22.11%.

Insider Activity at TD SYNNEX

In other news, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the completion of the sale, the chief financial officer now directly owns 48,362 shares in the company, valued at $5,858,089.06. This represents a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $120.72, for a total value of $2,414,400.00. Following the completion of the sale, the director now directly owns 171,080 shares of the company’s stock, valued at approximately $20,652,777.60. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,876 shares of company stock valued at $8,196,529. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

SNX has been the subject of several recent analyst reports. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday. Loop Capital reiterated a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Tuesday, January 7th. Finally, 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 research report on Friday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and an average price target of $144.38.

TD SYNNEX Company 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.