TD SYNNEX Co. (NYSE:SNX) Director Richard T. Hume Sells 20,000 Shares

TD SYNNEX Co. (NYSE:SNX) Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $120.72, for a total value of $2,414,400.00. Following the completion of the sale, the director now owns 171,080 shares in the company, valued at $20,652,777.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

TD SYNNEX Trading Up 1.7 %

Shares of SNX stock traded up $2.09 on Thursday, reaching $123.46. 596,462 shares of the stock were exchanged, compared to its average volume of 806,272. The stock has a 50 day moving average price of $117.34 and a 200 day moving average price of $119.07. The stock has a market cap of $10.51 billion, a PE ratio of 15.97, a P/E/G ratio of 1.21 and a beta of 1.48. TD SYNNEX Co. has a one year low of $89.73 and a one year high of $133.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06. The company had revenue of $14.68 billion for the quarter, compared to the consensus estimate of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.71 EPS. Equities research analysts forecast that TD SYNNEX Co. will post 11.06 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SNX. Benjamin F. Edwards & Company Inc. increased its holdings in TD SYNNEX by 121.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of TD SYNNEX in the 3rd quarter valued at about $30,000. Rise Advisors LLC acquired a new stake in shares of TD SYNNEX in the 1st quarter valued at approximately $32,000. UMB Bank n.a. boosted its stake in TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after acquiring an additional 144 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in TD SYNNEX during the third quarter valued at approximately $37,000. 84.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SNX has been the topic of several analyst reports. UBS Group upped their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Loop Capital reaffirmed a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research note on Friday, September 27th. Barclays raised their price target on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Finally, Barrington Research reissued an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $134.75.

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.