Victory Capital Management Inc. Sells 89,434 Shares of TD SYNNEX Co. (NYSE:SNX)

Victory Capital Management Inc. reduced its position in TD SYNNEX Co. (NYSE:SNX) by 21.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 325,228 shares of the business services provider’s stock after selling 89,434 shares during the period. Victory Capital Management Inc.’s holdings in TD SYNNEX were worth $38,143,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of TD SYNNEX by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider’s stock valued at $59,512,000 after buying an additional 9,915 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of TD SYNNEX by 1.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 35,206 shares of the business services provider’s stock valued at $4,129,000 after buying an additional 569 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of TD SYNNEX by 196.5% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider’s stock valued at $59,000 after buying an additional 336 shares in the last quarter. US Bancorp DE boosted its holdings in shares of TD SYNNEX by 6.9% in the 4th quarter. US Bancorp DE now owns 5,482 shares of the business services provider’s stock valued at $643,000 after buying an additional 352 shares in the last quarter. Finally, Sage Investment Counsel LLC bought a new stake in shares of TD SYNNEX in the 4th quarter valued at about $644,000. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Stock Performance

SNX opened at $129.29 on Friday. TD SYNNEX Co. has a 12-month low of $102.23 and a 12-month 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 firm has a market capitalization of $10.91 billion, a PE ratio of 16.24, a P/E/G ratio of 1.06 and a beta of 1.51. The firm has a 50 day moving average of $135.83 and a two-hundred day moving average of $124.88.

TD SYNNEX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was 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 1.36%. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.11%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target 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. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and increased their price objective for the company from $122.00 to $147.00 in a research report on Friday, January 10th. StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Royal Bank of Canada increased their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Finally, Barclays increased their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $147.50.

Insiders Place Their Bets

In other news, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the completion of the transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $23,681,372. The trade was a 3.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $2,717,600.00. Following the transaction, the director now directly owns 65,480 shares of the company’s stock, valued at approximately $8,897,422.40. This trade represents a 23.40 % 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. 1.00% of the stock is owned by insiders.

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.