Thrivent Financial for Lutherans Grows Stake in TD SYNNEX Co. (NYSE:SNX)

Thrivent Financial for Lutherans boosted its position in TD SYNNEX Co. (NYSE:SNX) by 92.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 715,603 shares of the business services provider’s stock after purchasing an additional 343,856 shares during the period. Thrivent Financial for Lutherans’ holdings in TD SYNNEX were worth $83,926,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. FMR LLC increased its stake in TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after purchasing an additional 1,154,651 shares in the last quarter. JPMorgan Chase & Co. increased its stake in TD SYNNEX by 37.0% in 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 in the last quarter. Ninety One UK Ltd increased its stake in TD SYNNEX by 75.4% in 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 in the last quarter. State Street Corp grew its holdings 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 buying an additional 15,995 shares during the last quarter. Finally, River Road Asset Management LLC grew its holdings in TD SYNNEX by 0.5% during the 4th quarter. River Road Asset Management LLC now owns 869,367 shares of the business services provider’s stock valued at $101,959,000 after buying an additional 4,220 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Price Performance

SNX stock opened at $128.94 on Wednesday. TD SYNNEX Co. has a 52-week low of $102.23 and a 52-week high of $145.10. The stock’s fifty day simple moving average is $137.14 and its 200-day simple moving average is $125.22. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $10.88 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were given a $0.44 dividend. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, January 24th. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SNX shares. 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 report 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 report on Monday, January 13th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday. 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 report on Monday, January 13th. Finally, Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and increased their target price for the company from $122.00 to $147.00 in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

Insider Buying and Selling

In related news, Director Ann F. Vezina sold 839 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the transaction, the director now directly owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This trade represents a 14.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. This trade 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 have sold 47,662 shares of company stock valued at $6,159,860. 1.00% of the stock is currently owned by company insiders.

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.