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 stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the completion of the transaction, the director now directly owns 65,480 shares in the company, valued at $8,897,422.40. The trade was a 23.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $129.17 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX Co. has a fifty-two week low of $102.23 and a fifty-two week high of $145.10. The company has a market capitalization of $10.90 billion, a P/E ratio of 16.23, a PEG ratio of 1.06 and a beta of 1.49. The stock has a 50 day moving average price of $135.43 and a two-hundred day moving average price of $124.72.

TD SYNNEX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were given a dividend of $0.44 per share. The ex-dividend date was Friday, January 24th. This represents a $1.76 annualized dividend and a yield of 1.36%. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio is presently 22.11%.

Institutional Investors Weigh In On TD SYNNEX

A number of large investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of TD SYNNEX during the fourth quarter worth about $6,167,000. Forum Financial Management LP increased its holdings in TD SYNNEX by 10.0% during the 4th quarter. Forum Financial Management LP now owns 2,514 shares of the business services provider’s stock valued at $295,000 after purchasing an additional 229 shares during the period. Vise Technologies Inc. bought a new position in TD SYNNEX during the 4th quarter valued at approximately $276,000. CSS LLC IL lifted its holdings in TD SYNNEX by 11.7% in the 4th quarter. CSS LLC IL now owns 11,896 shares of the business services provider’s stock worth $1,395,000 after buying an additional 1,250 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of TD SYNNEX by 10.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,557 shares of the business services provider’s stock worth $22,466,000 after buying an additional 17,683 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

SNX has been the topic of a number of research analyst reports. Barclays increased their target price 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. JPMorgan Chase & Co. raised their price objective on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Royal Bank of Canada upped their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and increased their price target for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Finally, StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Three 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 company has an average rating of “Moderate Buy” and an average price target of $147.50.

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.