PNC Financial Services Group Inc. Has $543,000 Holdings in TD SYNNEX Co. (NYSE:SNX)

PNC Financial Services Group Inc. boosted its stake in TD SYNNEX Co. (NYSE:SNX) by 11.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,627 shares of the business services provider’s stock after buying an additional 476 shares during the period. PNC Financial Services Group Inc.’s holdings in TD SYNNEX were worth $543,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SNX. Bartlett & CO. Wealth Management LLC increased its holdings in TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the period. UMB Bank n.a. increased its holdings in TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 140 shares during the period. Point72 DIFC Ltd acquired a new stake in TD SYNNEX in the third quarter valued at $55,000. Blue Trust Inc. increased its holdings in TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 129 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in TD SYNNEX by 31.9% in the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 116 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the transaction, the director now owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the transaction, the director now directly owns 4,856 shares in the company, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,172 shares of company stock valued at $6,353,261 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SNX shares. Barclays increased their price objective on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Royal Bank of Canada upped their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Finally, Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and upped their price target for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and an average price target of $147.50.

TD SYNNEX Price Performance

SNX stock opened at $132.13 on Thursday. The stock has a market capitalization of $11.15 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The company’s 50-day moving average is $137.34 and its 200-day moving average is $125.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. TD SYNNEX Co. has a 1 year low of $102.77 and a 1 year high of $145.10.

TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio is 22.11%.

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.