TD SYNNEX Corporation $SNX Shares Sold by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC sold 25.6% of its shares in TD SYNNEX Corporation, reducing its holdings to 5,394 shares valued at approximately $756,000.
• Several institutional investors increased their stakes in TD SYNNEX, with Mitsubishi UFJ Asset Management boosting shares by 329.8% during the first quarter.
• TD SYNNEX announced a quarterly dividend of $0.44 per share, representing a 1.1% yield, with an ex-dividend date of October 17th.

Wealth Enhancement Advisory Services LLC cut its holdings in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 25.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,394 shares of the business services provider's stock after selling 1,858 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in TD SYNNEX were worth $756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of TD SYNNEX by 329.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock worth $25,000 after buying an additional 188 shares during the period. Versant Capital Management Inc lifted its position in shares of TD SYNNEX by 115.1% in the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock worth $36,000 after purchasing an additional 183 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of TD SYNNEX in the first quarter worth approximately $44,000. Quarry LP purchased a new stake in shares of TD SYNNEX in the first quarter worth approximately $51,000. Finally, SVB Wealth LLC purchased a new stake in shares of TD SYNNEX in the first quarter worth approximately $72,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Price Performance

Shares of SNX opened at $158.57 on Friday. TD SYNNEX Corporation has a 52-week low of $92.23 and a 52-week high of $167.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 1.20. The stock has a 50 day simple moving average of $150.24 and a 200 day simple moving average of $131.96. The firm has a market capitalization of $12.91 billion, a PE ratio of 17.20, a P/E/G ratio of 1.28 and a beta of 1.43.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued 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 currently 19.09%.

Analysts Set New Price Targets

SNX has been the subject of a number of research analyst reports. Zacks Research raised shares of TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Royal Bank Of Canada raised their price objective on shares of TD SYNNEX from $165.00 to $180.00 and gave the company an "outperform" rating in a research report on Friday, September 26th. The Goldman Sachs Group raised their price objective on shares of TD SYNNEX from $145.00 to $164.00 and gave the company a "buy" rating in a research report on Thursday, September 25th. UBS Group lifted their price target on shares of TD SYNNEX from $154.00 to $187.00 and gave the company a "buy" rating in a research report on Monday. Finally, Raymond James Financial set a $175.00 target price on shares of TD SYNNEX in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $169.55.

Insider Buying and Selling at TD SYNNEX

In other news, insider Alim Dhanji sold 1,257 shares of TD SYNNEX stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $142.41, for a total transaction of $179,009.37. Following the completion of the sale, the insider 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 861 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $7,458,585.68. This trade represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,930 shares of company stock valued at $430,163 in the last quarter. 1.00% of the stock is currently owned by 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.

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