TD SYNNEX Co. (NYSE:SNX) Plans Quarterly Dividend of $0.44

TD SYNNEX Co. (NYSE:SNX) announced a quarterly dividend on Monday, January 13th,Wall Street Journal reports. Shareholders of record on Friday, January 24th will be given a dividend of 0.44 per share by the business services provider on Friday, January 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40.

TD SYNNEX has increased its dividend by an average of 26.0% annually over the last three years. TD SYNNEX has a dividend payout ratio of 11.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect TD SYNNEX to earn $11.95 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 13.4%.

TD SYNNEX Stock Performance

Shares of NYSE:SNX traded down $1.23 during midday trading on Monday, hitting $132.78. The company had a trading volume of 1,113,528 shares, compared to its average volume of 792,750. TD SYNNEX has a 12-month low of $98.70 and a 12-month high of $134.48. The company has a fifty day moving average of $120.14 and a two-hundred day moving average of $117.90. The company has a market cap of $11.30 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.14 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research report on Tuesday, January 7th. StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and lifted their target price for the company from $122.00 to $147.00 in a research note on Friday. Barclays increased their price target on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.38.

Insider Buying and Selling at TD SYNNEX

In related news, insider David R. Vetter sold 20,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $123.14, for a total transaction of $2,462,800.00. Following the sale, the insider now owns 66,381 shares of the company’s stock, valued at $8,174,156.34. This represents a 23.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Simon Leung sold 6,249 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the transaction, the insider now directly owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,876 shares of company stock valued at $8,196,529 in the last 90 days. Insiders own 1.90% of the company’s stock.

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.