South Dakota Investment Council Expands Stake in TD SYNNEX Co.

The South Dakota Investment Council has increased its investment in TD SYNNEX Co. (NYSE:SNX) by 8.5% during the fourth quarter, as per its latest filing with the Securities and Exchange Commission (SEC). After acquiring an additional 5,692 shares in this period, the institutional investor now holds a total of 72,668 shares in TD SYNNEX. This stake represents approximately 0.09% ownership in the company, valued at around $8,523,000 based on the latest SEC reports.

Changes in Institutional Holdings

In addition to South Dakota Investment Council, various other institutional investors have also adjusted their holdings in TD SYNNEX. For instance, Pathstone Holdings LLC increased its stake by 45.2% in the third quarter, now owning 18,300 shares worth about $2,197,000 after adding an additional 5,698 shares. Similarly, JPMorgan Chase & Co. raised its stake by 37.0%, holding 3,012,219 shares valued at roughly $361,707,000 after acquiring 813,634 shares last quarter. Moreover, Allspring Global Investments Holdings LLC raised its investment in TD SYNNEX by 170.1%, now owning 81,714 shares valued at $9,812,000 following an additional purchase of 51,465 shares. Other firms, such as Assenagon Asset Management S.A. and iSAM Funds UK Ltd, also entered new positions with valuations of $2,260,000 and $500,000, respectively. Overall, institutional investors control 84.00% of TD SYNNEX’s stock.

Analyst Ratings and Price Targets

Several research firms have provided updates on TD SYNNEX’s stock. Barclays upgraded its target price from $132.00 to $148.00 and maintained an “equal weight” rating. Cfra has also raised its rating from “hold” to “buy,” increasing its price target from $122.00 to $147.00. Meanwhile, JPMorgan Chase & Co. has adjusted its price target from $135.00 to $150.00 with a neutral rating. StockNews.com and Royal Bank of Canada also raised their ratings and price targets, reflecting a generally optimistic outlook. Currently, two analysts rate the stock as a hold while seven have given it a buy rating, leading to a consensus rating of "Moderate Buy" and an average target price of $147.50 according to MarketBeat data.

Insider Transactions

In recent insider activity, Director Ann F. Vezina sold 839 shares on January 16 at an average price of $136.08, totaling approximately $114,171.12. This transaction reduced her stockholdings to 4,856 shares, valued at about $660,804.48. Additionally, Director Richard T. Hume sold 20,000 shares on January 3 at an average of $117.62, amounting to $2,352,400.00. Hume’s remaining shares are valued around $13,065,229.60, after a 15.26% decrease in position. Over the last quarter, insiders sold a total of 29,289 shares worth approximately $3,639,500. Currently, corporate insiders own 1.90% of the stock.

TD SYNNEX Stock Metrics

As of Friday, TD SYNNEX shares opened at $141.61. The company’s fifty-day moving average is set at $132.56, while the 200-day moving average stands at $123.40. TD SYNNEX has a market capitalization of $11.95 billion, with a P/E ratio of 17.79 and a price-to-earnings-growth ratio of 1.06. The stock has experienced fluctuations in the past year, with a low of $101.21 and a high of $145.10.

Dividend Announcement

TD SYNNEX recently announced a quarterly dividend of $0.44 per share, payable on January 31. Shareholders on record as of January 24 received this dividend, marking an increase from the previous quarterly dividend of $0.40. This adjustment results in an annualized dividend of $1.76, reflecting a yield of 1.24% and a dividend payout ratio of 22.11%.

About TD SYNNEX

TD SYNNEX Corporation functions as a distributor and solutions aggregator within the information technology ecosystem, offering a wide range of products, including personal computing devices, mobile phones, data center technologies, and various software solutions.

investment, stocks, dividend