Dennis Polk Sells 20,000 Shares of TD SYNNEX Co. (NYSE:SNX) Stock

TD SYNNEX Co. (NYSE:SNX) insider Dennis Polk sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,580,095.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Dennis Polk also recently made the following trade(s):

• On Monday, April 8th, Dennis Polk sold 20,000 shares of TD SYNNEX stock. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00.

TD SYNNEX Trading Down 0.1 %

Shares of TD SYNNEX stock opened at $115.40 on Friday. The firm’s 50 day moving average is $124.72 and its 200 day moving average is $112.69. The firm has a market capitalization of $10.28 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 1.13 and a beta of 1.55. TD SYNNEX Co. has a 1 year low of $89.73 and a 1 year high of $133.85. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. TD SYNNEX’s payout ratio is presently 22.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Barclays increased their price target on TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 27th. Barrington Research restated an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research note on Wednesday. UBS Group upped their price target on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America cut their price objective on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $135.00 target price on shares of TD SYNNEX in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $126.10.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SNX. Diversified Trust Co raised its position in TD SYNNEX by 15.9% in the fourth quarter. Diversified Trust Co now owns 2,989 shares of the business services provider’s stock valued at $322,000 after purchasing an additional 409 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in TD SYNNEX by 63.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 164,999 shares of the business services provider’s stock worth $17,756,000 after buying an additional 64,024 shares during the period. Norges Bank bought a new stake in TD SYNNEX during the 4th quarter worth approximately $79,506,000. Principal Financial Group Inc. increased its position in TD SYNNEX by 1.9% in the 4th quarter. Principal Financial Group Inc. now owns 733,239 shares of the business services provider’s stock valued at $78,904,000 after acquiring an additional 13,730 shares during the period. Finally, Raymond James Trust N.A. raised its stake in shares of TD SYNNEX by 9.0% during the fourth quarter. Raymond James Trust N.A. now owns 3,613 shares of the business services provider’s stock valued at $389,000 after acquiring an additional 297 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

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.