Marshall Witt Sells 1,510 Shares of TD SYNNEX Co. (NYSE:SNX) Stock

TD SYNNEX Co. (NYSE:SNX) CFO Marshall Witt sold 1,510 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the transaction, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

TD SYNNEX Stock Up 2.5 %

Shares of TD SYNNEX stock opened at $132.13 on Thursday. The stock has a market capitalization of $11.15 billion, a P/E ratio of 16.60, a PEG ratio of 1.06 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $137.34 and a two-hundred day moving average price of $125.26. TD SYNNEX Co. has a 12-month low of $102.77 and a 12-month high of $145.10.

TD SYNNEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.33%. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 24th. TD SYNNEX’s dividend payout ratio is currently 22.11%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SNX. Bartlett & CO. Wealth Management LLC raised its stake in TD SYNNEX by 345.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares in the last quarter. Bessemer Group Inc. boosted its holdings in TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after buying an additional 152 shares during the last quarter. UMB Bank n.a. boosted its holdings in TD SYNNEX by 48.4% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after buying an additional 140 shares during the last quarter. Point72 DIFC Ltd bought a new position in TD SYNNEX during the third quarter worth about $55,000. Finally, Blue Trust Inc. lifted its holdings in shares of TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 129 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Royal Bank of Canada lifted their price objective on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays boosted their price target on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price objective for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.