Simon Leung Sells 6,249 Shares of TD SYNNEX Co. (NYSE:SNX) Stock

TD SYNNEX Co. (NYSE:SNX) insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now owns 23,339 shares in the company, valued at approximately $2,874,664.63. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

TD SYNNEX Stock Up 0.8 %

NYSE:SNX traded up $0.98 during trading hours on Thursday, hitting $124.83. The company’s stock had a trading volume of 494,716 shares, compared to its average volume of 792,968. The stock has a fifty day moving average of $117.90 and a 200-day moving average of $119.56. The stock has a market capitalization of $10.62 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. TD SYNNEX Co. has a 52-week low of $92.66 and a 52-week high of $133.85. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $14.11 billion. During the same quarter in the prior year, the firm earned $2.71 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts forecast that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is 20.70%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Loop Capital reiterated a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. Finally, StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.75.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SNX. Vanguard Group Inc. grew its holdings in shares of TD SYNNEX by 23.4% during the first quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock worth $751,143,000 after buying an additional 1,261,474 shares in the last quarter. Pacer Advisors Inc. grew its holdings in TD SYNNEX by 58.9% in 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 purchasing an additional 1,006,569 shares during the period. Dimensional Fund Advisors LP raised its position in shares of TD SYNNEX by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock worth $258,482,000 after buying an additional 177,460 shares during the period. AQR Capital Management LLC lifted its stake in shares of 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 valued at $178,421,000 after purchasing an additional 269,759 shares in the last quarter. Finally, Ninety One UK Ltd lifted its position in TD SYNNEX by 131.0% during the second quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock valued at $158,298,000 after buying an additional 777,924 shares in the last quarter. 84.00% of the stock is 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.