TD SYNNEX Co. (NYSE:SNX) Director Sells $2,717,600.00 in Stock

TD SYNNEX Co. (NYSE:SNX) Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the completion of the sale, the director now owns 65,480 shares in the company, valued at $8,897,422.40. The trade was a 23.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

TD SYNNEX Stock Performance

Shares of SNX stock traded down $2.63 during trading hours on Tuesday, reaching $132.39. 659,848 shares of the company’s stock were exchanged, compared to its average volume of 720,007. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The company has a market cap of $11.17 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. The company’s 50 day moving average is $134.90 and its two-hundred day moving average is $124.56. TD SYNNEX Co. has a 1 year low of $102.23 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. Shareholders of record on Friday, January 24th were issued a dividend of $0.44 per share. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Friday, January 24th. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.11%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barclays raised their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Royal Bank of Canada raised their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price objective for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.50.

Institutional Investors Weigh In On TD SYNNEX

Institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System lifted its position in TD SYNNEX by 0.4% in the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock valued at $2,607,000 after purchasing an additional 78 shares during the last quarter. CIBC Asset Management Inc increased its position in TD SYNNEX by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after acquiring an additional 86 shares during the period. Quadrant Capital Group LLC raised its stake in TD SYNNEX by 9.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider’s stock valued at $125,000 after acquiring an additional 90 shares in the last quarter. Ellevest Inc. boosted its position in TD SYNNEX by 3.9% during the 4th quarter. Ellevest Inc. now owns 2,384 shares of the business services provider’s stock worth $280,000 after acquiring an additional 90 shares during the period. Finally, Utah Retirement Systems grew its stake in shares of TD SYNNEX by 2.5% in the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider’s stock worth $481,000 after purchasing an additional 100 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Company 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.