KG&L Capital Management LLC Makes New Investment in TD SYNNEX Corporation $SNX

Key Points

• KG&L Capital Management LLC made a new investment in TD SYNNEX Corporation, purchasing 1,773 shares worth approximately $241,000 in the second quarter.
• TD SYNNEX recently announced a quarterly dividend of $0.44 per share, with an annualized yield of 1.1% and a dividend payout ratio of 19.09%.
• Analysts have boosted their target prices for TD SYNNEX, with Royal Bank of Canada increasing it from $165 to $180, indicating a positive outlook for the company's stock.

KG&L Capital Management LLC purchased a new stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,773 shares of the business services provider's stock, valued at approximately $241,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Crossmark Global Holdings Inc. grew its stake in TD SYNNEX by 1.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 6,063 shares of the business services provider's stock worth $630,000 after buying an additional 94 shares in the last quarter. State of Michigan Retirement System increased its stake in TD SYNNEX by 0.6% in the first quarter. State of Michigan Retirement System now owns 18,021 shares of the business services provider's stock valued at $1,873,000 after acquiring an additional 100 shares during the last quarter. Louisiana State Employees Retirement System raised its position in TD SYNNEX by 0.5% during the first quarter. Louisiana State Employees Retirement System now owns 21,100 shares of the business services provider's stock valued at $2,194,000 after purchasing an additional 100 shares in the last quarter. GAMMA Investing LLC lifted its stake in TD SYNNEX by 16.8% during the first quarter. GAMMA Investing LLC now owns 750 shares of the business services provider's stock worth $78,000 after purchasing an additional 108 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of TD SYNNEX by 19.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 724 shares of the business services provider's stock worth $76,000 after purchasing an additional 116 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Stock Up 3.1%

Shares of NYSE:SNX opened at $164.62 on Monday. The stock's 50-day moving average is $148.40 and its 200 day moving average is $130.79. The company has a market cap of $13.58 billion, a PE ratio of 17.85, a P/E/G ratio of 1.34 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.20 and a quick ratio of 0.71. TD SYNNEX Corporation has a 1 year low of $92.23 and a 1 year high of $164.73.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. TD SYNNEX's dividend payout ratio (DPR) is presently 19.09%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 861 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $149.84, for a total value of $129,012.24. Following the completion of the transaction, the chief financial officer directly owned 49,777 shares in the company, valued at approximately $7,458,585.68. This represents a 1.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann F. Vezina sold 812 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $150.42, for a total transaction of $122,141.04. Following the completion of the sale, the director directly owned 6,079 shares of the company's stock, valued at approximately $914,403.18. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,930 shares of company stock valued at $430,163. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SNX shares. Royal Bank Of Canada boosted their target price on TD SYNNEX from $165.00 to $180.00 and gave the stock an "outperform" rating in a research report on Friday. Raymond James Financial set a $175.00 price objective on shares of TD SYNNEX in a report on Thursday. Loop Capital increased their target price on shares of TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a report on Monday, June 30th. Bank of America boosted their price target on shares of TD SYNNEX from $170.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Barrington Research reaffirmed an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a research note on Tuesday, September 23rd. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $162.73.

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.

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