Richard T. Hume Sells 10,000 Shares of TD SYNNEX Co. (NYSE:SNX) Stock

TD SYNNEX Co. (NYSE:SNX) CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total value of $1,157,900.00. Following the transaction, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock opened at $117.63 on Friday. TD SYNNEX Co. has a twelve month low of $86.30 and a twelve month high of $119.87. The stock has a market capitalization of $10.48 billion, a P/E ratio of 17.07, a PEG ratio of 1.08 and a beta of 1.59. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average price is $110.38 and its 200 day moving average price is $103.86.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. The company had revenue of $13.98 billion for the quarter, compared to analysts’ expectations of $14.37 billion. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. As a group, research analysts anticipate that TD SYNNEX Co. will post 11.38 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Thursday, April 11th. TD SYNNEX’s dividend payout ratio is presently 23.22%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC lifted its stake in shares of TD SYNNEX by 4.7% during the third quarter. FMR LLC now owns 6,853,828 shares of the business services provider’s stock worth $684,423,000 after purchasing an additional 307,844 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of TD SYNNEX by 7.4% during the fourth quarter. Vanguard Group Inc. now owns 5,379,928 shares of the business services provider’s stock worth $578,934,000 after purchasing an additional 371,322 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of TD SYNNEX by 38.5% during the first quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock worth $172,081,000 after purchasing an additional 421,908 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of TD SYNNEX by 33,158.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock worth $143,767,000 after acquiring an additional 1,331,988 shares during the last quarter. Finally, Lyrical Asset Management LP increased its position in shares of TD SYNNEX by 0.3% during the fourth quarter. Lyrical Asset Management LP now owns 1,277,884 shares of the business services provider’s stock worth $137,513,000 after acquiring an additional 3,571 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

SNX has been the subject of several recent research reports. Barclays raised their price target on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. raised their price objective on TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Cfra raised their price objective on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a report on Tuesday, March 26th. UBS Group upgraded TD SYNNEX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $115.00 to $145.00 in a report on Tuesday, April 16th. Finally, Bank of America raised their price objective on TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, TD SYNNEX has an average rating of “Moderate Buy” and a consensus target price of $121.82.

About TD SYNNEX

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.