TD SYNNEX (NYSE:SNX) Director Sells $1,401,900.00 in Stock

TD SYNNEX Corporation (NYSE:SNX) Director Richard Hume sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $280.38, for a total transaction of $1,401,900.00. Following the completion of the transaction, the director owned 23,537 shares of the company’s stock, valued at approximately $6,599,304.06. The trade was a 17.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TD SYNNEX Trading Down 3.4%

Shares of TD SYNNEX stock opened at $268.25 on Friday. The company has a fifty day simple moving average of $222.16 and a 200-day simple moving average of $178.64. TD SYNNEX Corporation has a 12-month low of $121.50 and a 12-month high of $286.25. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. The stock has a market cap of $21.56 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 1.20 and a beta of 1.43.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $1.49. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The business had revenue of $17.16 billion during the quarter, compared to analysts’ expectations of $15.59 billion. During the same quarter in the prior year, the business posted $2.80 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, equities analysts forecast that TD SYNNEX Corporation will post 15.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were issued a $0.48 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $1.92 annualized dividend and a dividend yield of 0.7%. TD SYNNEX’s dividend payout ratio is presently 15.96%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barrington Research restated an “outperform” rating and issued a $182.00 target price on shares of TD SYNNEX in a report on Friday, March 27th. Royal Bank Of Canada upped their price target on shares of TD SYNNEX from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Weiss Ratings upgraded shares of TD SYNNEX from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday. Finally, Barclays upped their price target on shares of TD SYNNEX from $166.00 to $237.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and an average target price of $212.60.

Hedge Funds Weigh In On TD SYNNEX

A number of large investors have recently bought and sold shares of the company. Concentric Capital Strategies LP purchased a new position in TD SYNNEX during the third quarter worth about $18,036,000. Envestnet Asset Management Inc. raised its holdings in TD SYNNEX by 11.1% during the third quarter. Envestnet Asset Management Inc. now owns 82,977 shares of the business services provider’s stock worth $13,587,000 after purchasing an additional 8,264 shares in the last quarter. Fieldview Capital Management LLC purchased a new position in TD SYNNEX during the third quarter worth about $1,318,000. Citigroup Inc. raised its holdings in TD SYNNEX by 12.0% during the third quarter. Citigroup Inc. now owns 83,103 shares of the business services provider’s stock worth $13,608,000 after purchasing an additional 8,914 shares in the last quarter. Finally, Algert Global LLC purchased a new position in TD SYNNEX during the third quarter worth about $7,140,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Company Profile

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.