TD SYNNEX Co. (NYSE:SNX) CFO Marshall Witt Sells 5,653 Shares

TD SYNNEX Co. (NYSE:SNX) CFO Marshall Witt sold 5,653 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.15, for a total transaction of $684,860.95. Following the completion of the sale, the chief financial officer now owns 38,279 shares in the company, valued at $4,637,500.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Marshall Witt also recently made the following trade(s):

• On Wednesday, August 7th, Marshall Witt sold 11,441 shares of TD SYNNEX stock. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74.

TD SYNNEX Stock Down 0.5 %

Shares of SNX opened at $118.69 on Friday. The firm has a market capitalization of $10.14 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.22 and a beta of 1.48. TD SYNNEX Co. has a 12-month low of $89.73 and a 12-month high of $133.85. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $116.48 and a 200-day moving average price of $118.91.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The company had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. During the same period in the prior year, the firm earned $2.71 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts expect that TD SYNNEX Co. will post 11.06 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

Wall Street Analyst Weigh In

SNX has been the topic of a number of analyst reports. Loop Capital reiterated a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a research report on Monday, October 7th. UBS Group boosted their price objective on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Barrington Research reiterated an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. JPMorgan Chase & Co. cut their price objective on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research report on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.75.

Institutional Trading of TD SYNNEX

A number of hedge funds have recently added to or reduced their stakes in SNX. Vanguard Group Inc. lifted its stake in TD SYNNEX by 23.4% in the first quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock worth $751,143,000 after acquiring an additional 1,261,474 shares during the period. Pacer Advisors Inc. lifted its stake in TD SYNNEX by 58.9% in the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock worth $313,469,000 after acquiring an additional 1,006,569 shares during the period. Ninety One UK Ltd raised its holdings in TD SYNNEX by 131.0% in the second quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock worth $158,298,000 after purchasing an additional 777,924 shares in the last quarter. Lind Value II ApS bought a new position in TD SYNNEX in the first quarter worth about $77,858,000. Finally, Lord Abbett & CO. LLC bought a new position in TD SYNNEX in the first quarter worth about $57,981,000. 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.