Insider Selling: TD SYNNEX Co. (NYSE:SNX) Director Sells 117 Shares of Stock

TD SYNNEX Co. (NYSE:SNX) Director Merline Saintil sold 117 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $122.51, for a total transaction of $14,333.67. Following the completion of the sale, the director now owns 5,748 shares in the company, valued at approximately $704,187.48. This trade represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

TD SYNNEX Stock Down 1.3 %

SNX stock traded down $1.62 during mid-day trading on Thursday, hitting $122.04. The stock had a trading volume of 431,724 shares, compared to its average volume of 769,542. TD SYNNEX Co. has a 1-year low of $97.13 and a 1-year high of $133.85. The company has a fifty day moving average of $119.51 and a 200 day moving average of $119.55. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 1.14 and a beta of 1.47.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. The firm had revenue of $14.68 billion for the quarter, compared to the consensus estimate of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.71 earnings per share. On average, equities analysts expect that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.31%. TD SYNNEX’s dividend payout ratio (DPR) is currently 20.70%.

Analyst Upgrades and Downgrades

Several research firms recently commented on SNX. Loop Capital reissued a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. Barclays boosted their price objective on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Barrington Research reissued an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. Finally, StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.75.

Institutional Trading of TD SYNNEX

Large investors have recently made changes to their positions in the stock. FMR LLC increased its position in TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after buying an additional 1,154,651 shares during the period. Pacer Advisors Inc. lifted its stake in TD SYNNEX by 58.9% during the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock worth $313,469,000 after purchasing an additional 1,006,569 shares during the period. Ninety One UK Ltd lifted its position in shares of TD SYNNEX by 131.0% during the 2nd quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock worth $158,298,000 after buying an additional 777,924 shares during the period. Thrivent Financial for Lutherans raised its stake in TD SYNNEX by 560.0% during the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock worth $44,639,000 after acquiring an additional 315,424 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of TD SYNNEX by 21.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock worth $178,421,000 after purchasing an additional 269,759 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

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.