TD SYNNEX Co. (NYSE:SNX - Get Free Report) Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the sale, the director now directly owns 65,480 shares of the company's stock, valued at $8,897,422.40. This represents a 23.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
TD SYNNEX Stock Down 1.9 %
Shares of NYSE SNX opened at $132.39 on Wednesday. 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 52 week low of $102.23 and a 52 week high of $145.10. The stock has a market capitalization of $11.17 billion, a P/E ratio of 16.63, a PEG ratio of 1.06 and a beta of 1.49. The stock's fifty day moving average is $135.16 and its 200 day moving average is $124.66.
TD SYNNEX Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were given a $0.44 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.33%. This is a boost from TD SYNNEX's previous quarterly dividend of $0.40. TD SYNNEX's dividend payout ratio (DPR) is presently 22.11%.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. StockNews.com downgraded TD SYNNEX from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Royal Bank of Canada increased their price objective on TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Cfra upgraded TD SYNNEX from a "hold" rating to a "buy" rating and increased their price objective for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Barclays increased their price objective on TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. increased their price objective on TD SYNNEX from $135.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $147.50.
Get Our Latest Stock Analysis on SNX
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of TD SYNNEX by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider's stock worth $901,323,000 after purchasing an additional 29,659 shares during the period. FMR LLC boosted its stake in TD SYNNEX by 3.2% in the fourth quarter. FMR LLC now owns 7,663,179 shares of the business services provider's stock valued at $898,738,000 after buying an additional 237,587 shares in the last quarter. Brave Warrior Advisors LLC boosted its stake in TD SYNNEX by 12.2% in the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider's stock valued at $486,380,000 after buying an additional 451,557 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in TD SYNNEX by 10.7% in the fourth quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider's stock valued at $391,188,000 after buying an additional 323,282 shares in the last quarter. Finally, Ninety One UK Ltd boosted its stake in TD SYNNEX by 75.4% in the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider's stock valued at $277,316,000 after buying an additional 1,016,251 shares in the last quarter. Institutional investors own 84.00% of the company's stock.
About TD SYNNEX
(
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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.
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