Marshall Witt Sells 1,510 Shares of TD SYNNEX Co. (NYSE:SNX) Stock

TD SYNNEX Co. (NYSE:SNX) CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the transaction, the chief financial officer now directly owns 49,843 shares of the company’s stock, valued at $6,383,891.44. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

TD SYNNEX Stock Up 2.5 %

Shares of TD SYNNEX stock traded up $3.28 during midday trading on Wednesday, hitting $132.13. The company had a trading volume of 521,874 shares, compared to its average volume of 723,279. 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 stock has a market capitalization of $11.15 billion, a P/E ratio of 16.60, a P/E/G ratio of 1.06 and a beta of 1.51. The company has a 50 day moving average of $137.34 and a 200 day moving average of $125.26. TD SYNNEX Co. has a 52-week low of $102.77 and a 52-week high of $145.10.

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 paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 annualized dividend and a dividend yield of 1.33%. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio is presently 22.11%.

Analysts Set New Price Targets

SNX has been the subject of a number of recent analyst reports. Barclays upped their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Royal Bank of Canada increased their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report 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 report on Monday, January 13th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and increased their target price for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average price target of $147.50.

Institutional Trading of TD SYNNEX

Several institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its stake in 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 purchasing an additional 78 shares during the last quarter. CIBC Asset Management Inc boosted its stake in TD SYNNEX by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after purchasing an additional 86 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in TD SYNNEX by 9.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider’s stock valued at $125,000 after purchasing an additional 90 shares during the last quarter. Ellevest Inc. boosted its stake in shares of TD SYNNEX by 3.9% in the 4th quarter. Ellevest Inc. now owns 2,384 shares of the business services provider’s stock worth $280,000 after buying an additional 90 shares during the last quarter. Finally, Utah Retirement Systems boosted its stake in shares of TD SYNNEX by 2.5% in the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider’s stock worth $481,000 after buying an additional 100 shares during the last quarter. 84.00% of the stock is currently 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.