TD SYNNEX Co. (NYSE:SNX) Insider Sells $1,834,514.77 in Stock

TD SYNNEX Co. (NYSE:SNX) insider Dennis Polk sold 15,689 shares of TD SYNNEX stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total value of $1,834,514.77. Following the completion of the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,751,172.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

TD SYNNEX Trading Up 1.7 %

NYSE:SNX opened at $117.31 on Monday. TD SYNNEX Co. has a one year low of $89.73 and a one year high of $133.85. The business has a fifty day moving average price of $116.22 and a 200-day moving average price of $118.45. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.48. 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 posted its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.80 by $0.06. The firm had revenue of $14.68 billion for the quarter, compared to the consensus estimate of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.71 earnings per share. Sell-side analysts forecast that TD SYNNEX Co. will post 11.06 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.36%. TD SYNNEX’s payout ratio is currently 22.41%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Bank of America decreased their price objective on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, June 27th. JPMorgan Chase & Co. dropped their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Barrington Research reiterated an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Finally, UBS Group raised their price target on TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.57.

Institutional Trading of TD SYNNEX

A number of hedge funds and other institutional investors have recently modified their holdings of SNX. Benjamin F. Edwards & Company Inc. raised its holdings in TD SYNNEX by 121.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 140 shares during the period. Rise Advisors LLC bought a new stake in TD SYNNEX during the 1st quarter valued at approximately $32,000. Pineridge Advisors LLC purchased a new position in TD SYNNEX in the 4th quarter worth approximately $33,000. Blue Trust Inc. boosted its stake in TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after purchasing an additional 123 shares during the period. Finally, GAMMA Investing LLC grew its holdings in TD SYNNEX by 217.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock valued at $52,000 after buying an additional 311 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

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.