South Dakota Investment Council Increases Stake in TD SYNNEX Co.

The South Dakota Investment Council has recently raised its holdings in TD SYNNEX Co. (NYSE:SNX) by 8.5% during the fourth quarter, as reported in its latest filing with the Securities and Exchange Commission (SEC). Following this transaction, the council now possesses 72,668 shares of the business services provider after acquiring an additional 5,692 shares in the same period. As of the most recent SEC filing, the South Dakota Investment Council's stake in TD SYNNEX amounts to approximately 0.09%, valued at $8,523,000.

Change in Stake by Other Investors

In addition to the South Dakota Investment Council, other institutional investors have also altered their positions in TD SYNNEX. For instance, Pathstone Holdings LLC increased its stake by 45.2% in the third quarter, now holding 18,300 shares worth about $2,197,000 after purchasing an extra 5,698 shares. Moreover, JPMorgan Chase & Co. raised its stake by 37.0% during the same period, owning 3,012,219 shares valued at approximately $361,707,000 after acquiring an extra 813,634 shares. Another significant increase was made by Allspring Global Investments Holdings LLC, which grew its stake by an impressive 170.1%, now owning 81,714 shares valued at $9,812,000 after adding 51,465 shares. Assenagon Asset Management S.A. and iSAM Funds UK Ltd also made purchases in TD SYNNEX, amassing new positions valued at around $2,260,000 and $500,000, respectively. Overall, 84.00% of TD SYNNEX's stock is held by institutional investors.

Analysts Outlook on TD SYNNEX

Several research firms have projected positive growth for TD SYNNEX. For example, Barclays upgraded the target price for TD SYNNEX shares from $132.00 to $148.00 while maintaining an "equal weight" rating. Similarly, Cfra revised its stance from "hold" to "buy," raising the price target from $122.00 to $147.00. Additionally, JPMorgan Chase & Co. bumped their price target from $135.00 to $150.00 and assigned a "neutral" rating. StockNews.com has upgraded it from "hold" to "buy," while Royal Bank of Canada increased its target price from $140.00 to $165.00 with an "outperform" rating. Currently, two analysts rate the stock as a hold, while seven assess it as a buy, indicating a consensus rating of "Moderate Buy" with an average target price of $147.50 according to MarketBeat.

Insider Stock Transactions

In related insider activity, director Ann F. Vezina sold 839 shares of TD SYNNEX on January 16 at an average price of $136.08, totaling around $114,171. Following this transaction, Vezina's holdings decreased by 14.73%, leaving her with 4,856 shares valued around $660,804. Additionally, director Richard T. Hume sold 20,000 shares on January 3 for approximately $2,352,400. After the sale, he retains 111,080 shares worth about $13,065,229. In the last quarter alone, insiders have sold a total of 29,289 shares of the company, valued at $3,639,500. Currently, corporate insiders hold 1.90% of TD SYNNEX stock.

Current Stock Performance and Dividend Changes

The current stock price of TD SYNNEX opened at $141.61. The fifty-day moving average price is $132.56, and the 200-day average is $123.40. The company has a market capitalization of $11.95 billion, along with a P/E ratio of 17.79 and a price-to-earnings-growth (PEG) ratio of 1.06. On a financial note, the company also recently declared a quarterly dividend of $0.44 per share, payable on January 31 to shareholders who were registered by January 24. This recent dividend increase from a prior amount of $0.40 signifies an annualized dividend of $1.76, yielding approximately 1.24%. The dividend payout ratio stands at 22.11%.

About TD SYNNEX

TD SYNNEX Corporation is a prominent distributor and solutions aggregator within the information technology sector. The firm provides a diverse range of products, including computing devices, peripherals, mobile phones, accessories, printers, data center technologies, and various software solutions.

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