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 TD SYNNEX stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the transaction, the director now directly owns 65,480 shares of the company’s stock, valued at approximately $8,897,422.40. This trade represents a 23.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

TD SYNNEX Price Performance

NYSE SNX opened at $132.81 on Thursday. TD SYNNEX Co. has a one year low of $102.23 and a one year high of $145.10. The stock has a 50-day moving average of $135.16 and a 200 day moving average of $124.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The company has a market capitalization of $11.21 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.06 and a beta of 1.49.

TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were issued a dividend of $0.44 per share. 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 payout ratio is presently 22.11%.

Institutional Investors Weigh In On TD SYNNEX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its holdings in shares of TD SYNNEX by 0.4% during the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock valued at $2,607,000 after buying an additional 78 shares during the period. CIBC Asset Management Inc lifted its holdings in TD SYNNEX by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after acquiring an additional 86 shares during the period. Quadrant Capital Group LLC boosted its position in TD SYNNEX by 9.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider’s stock worth $125,000 after purchasing an additional 90 shares during the last quarter. Ellevest Inc. grew its stake in shares of TD SYNNEX by 3.9% during the 4th quarter. Ellevest Inc. now owns 2,384 shares of the business services provider’s stock valued at $280,000 after purchasing an additional 90 shares during the period. Finally, Utah Retirement Systems increased its position in shares of TD SYNNEX by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider’s stock valued at $481,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SNX shares. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and lifted their target price for the company from $122.00 to $147.00 in a report on Friday, January 10th. Royal Bank of Canada lifted their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. increased their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Barclays increased their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.50.

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.