LGT Fund Management Co Ltd. Raises Stock Holdings in TD SYNNEX Corporation $SNX

Key Points

• LGT Fund Management Co Ltd. increased its holdings in TD SYNNEX Corporation by 75.7%, owning approximately 42,169 shares worth $5.7 million at the end of the last reporting period.
• TD SYNNEX has announced a quarterly dividend of $0.44 per share, with a payout ratio of 19.09% and a yield of 1.1%, set to be paid on October 31st.
• Analysts have rated TD SYNNEX with an average rating of "Moderate Buy", with several price target increases, including a boost from $165 to $180 by the Royal Bank Of Canada.

LGT Fund Management Co Ltd. boosted its holdings in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 75.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,169 shares of the business services provider's stock after purchasing an additional 18,169 shares during the quarter. LGT Fund Management Co Ltd. owned approximately 0.05% of TD SYNNEX worth $5,722,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Crossmark Global Holdings Inc. lifted its position in shares of TD SYNNEX by 1.6% in the first quarter. Crossmark Global Holdings Inc. now owns 6,063 shares of the business services provider's stock valued at $630,000 after acquiring an additional 94 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of 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 in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of TD SYNNEX by 0.5% in 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 acquiring an additional 100 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of TD SYNNEX by 16.8% in the first quarter. GAMMA Investing LLC now owns 750 shares of the business services provider's stock valued at $78,000 after acquiring an additional 108 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of TD SYNNEX by 19.1% in the first quarter. Smartleaf Asset Management LLC now owns 724 shares of the business services provider's stock valued at $76,000 after acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

TD SYNNEX Price Performance

SNX stock opened at $158.57 on Friday. The business has a fifty day moving average of $150.24 and a two-hundred day moving average of $131.96. The company has a quick ratio of 0.71, a current ratio of 1.20 and a debt-to-equity ratio of 0.36. The stock has a market cap of $12.91 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 1.28 and a beta of 1.43. TD SYNNEX Corporation has a 52-week low of $92.23 and a 52-week high of $167.76.

TD SYNNEX Announces Dividend

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

Wall Street Analyst Weigh In

SNX has been the topic of several research reports. Zacks Research upgraded TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Royal Bank Of Canada increased their price target on TD SYNNEX from $165.00 to $180.00 and gave the company an "outperform" rating in a report on Friday, September 26th. JPMorgan Chase & Co. increased their price target on TD SYNNEX from $143.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of TD SYNNEX in a report on Saturday, September 27th. Finally, Bank of America increased their price target on TD SYNNEX from $170.00 to $180.00 and gave the company a "buy" rating in a report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, TD SYNNEX presently has an average rating of "Moderate Buy" and a consensus price target of $169.55.

Insiders Place Their Bets

In other TD SYNNEX news, Director Ann F. Vezina sold 812 shares of the firm's stock in a transaction on 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 owned 6,079 shares of the company's stock, valued at $914,403.18. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alim Dhanji sold 1,257 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $142.41, for a total value of $179,009.37. Following the sale, the insider directly owned 10,984 shares of the company's stock, valued at approximately $1,564,231.44. This trade represents a 10.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,930 shares of company stock valued at $430,163 over the last quarter. 1.00% of the stock is owned by insiders.

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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