Richard T. Hume Sells 20,000 Shares of TD SYNNEX Co. (NYSE:SNX) Stock

TD SYNNEX Co. (NYSE:SNX) Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the transaction, the director now owns 171,080 shares of the company’s stock, valued at approximately $20,652,777.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

TD SYNNEX Stock Down 1.1 %

TD SYNNEX stock opened at $122.11 on Friday. TD SYNNEX Co. has a 52-week low of $89.73 and a 52-week high of $133.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The firm has a 50 day moving average price of $117.54 and a two-hundred day moving average price of $119.13. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.21 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, beating 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 business had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. During the same quarter in the prior year, the firm posted $2.71 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts predict that TD SYNNEX Co. will post 11.06 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is 20.70%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC increased its stake in TD SYNNEX by 3.2% in the first quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock valued at $315,000 after purchasing an additional 86 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in TD SYNNEX by 3.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock worth $315,000 after buying an additional 90 shares during the period. AlphaMark Advisors LLC boosted its holdings in TD SYNNEX by 1.3% in the third quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock worth $929,000 after acquiring an additional 100 shares in the last quarter. Fifth Third Bancorp grew its stake in TD SYNNEX by 11.1% in the second quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock valued at $123,000 after acquiring an additional 106 shares during the period. Finally, SummerHaven Investment Management LLC increased its holdings in shares of TD SYNNEX by 1.5% during the second quarter. SummerHaven Investment Management LLC now owns 7,704 shares of the business services provider’s stock valued at $889,000 after acquiring an additional 116 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a report on Friday, September 27th. JPMorgan Chase & Co. cut their price target on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. UBS Group upped their price objective on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Loop Capital reiterated a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, Bank of America decreased their price target 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, June 27th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $134.75.

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.