TD SYNNEX Co. (NYSE:SNX) Insider Dennis Polk Sells 15,689 Shares

TD SYNNEX Co. (NYSE:SNX) insider Dennis Polk sold 15,689 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the completion of the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,751,172.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

TD SYNNEX Price Performance

NYSE:SNX traded up $1.96 during mid-day trading on Friday, reaching $117.31. 430,198 shares of the stock were exchanged, compared to its average volume of 817,141. 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 1.25, a quick ratio of 0.78 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $10.03 billion, a PE ratio of 16.30, a PEG ratio of 1.19 and a beta of 1.49. The business has a fifty day moving average price of $116.24 and a 200 day moving average price of $118.24.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. The business had revenue of $14.68 billion for the quarter, compared to the consensus estimate of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.71 EPS. Research analysts expect that TD SYNNEX Co. will post 11.22 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s payout ratio is 22.41%.

Institutional Investors Weigh In On TD SYNNEX

Several hedge funds have recently modified their holdings of SNX. Vanguard Group Inc. grew its position in TD SYNNEX by 23.4% during the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock worth $751,143,000 after purchasing an additional 1,261,474 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of TD SYNNEX by 58.9% during the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock valued at $313,469,000 after buying an additional 1,006,569 shares in the last quarter. Dimensional Fund Advisors LP raised its position in TD SYNNEX by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock valued at $258,482,000 after buying an additional 177,460 shares during the period. AQR Capital Management LLC lifted its stake in TD SYNNEX by 21.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock worth $178,421,000 after acquiring an additional 269,759 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in TD SYNNEX by 38.5% during the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock worth $172,081,000 after acquiring an additional 421,908 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on SNX shares. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research report on Friday, September 27th. JPMorgan Chase & Co. decreased their price target on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Bank of America cut their price objective on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Finally, StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, TD SYNNEX presently has an average rating of “Moderate Buy” and a consensus price target of $132.57.

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.