TD SYNNEX Co. (NYSE:SNX) Short Interest Update

TD SYNNEX Co. (NYSE:SNX) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 1,200,000 shares, a drop of 20.0% from the January 15th total of 1,500,000 shares. Based on an average daily volume of 646,100 shares, the days-to-cover ratio is presently 1.9 days.

Insider Transactions at TD SYNNEX

In other news, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the transaction, the chief executive officer now owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,289 shares of company stock worth $3,639,500 in the last three months. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors have recently made changes to their positions in SNX. Bartlett & CO. Wealth Management LLC increased its stake in TD SYNNEX by 345.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Bessemer Group Inc. grew its position in shares of TD SYNNEX by 174.7% during the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after buying an additional 152 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of TD SYNNEX during the 3rd quarter valued at about $30,000. UMB Bank n.a. grew its position in shares of TD SYNNEX by 48.4% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after buying an additional 140 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of TD SYNNEX during the 3rd quarter valued at about $55,000. 84.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SNX shares. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday. Barclays lifted 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 note on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Wednesday, January 15th. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.38.

TD SYNNEX Stock Up 1.9 %

Shares of SNX traded up $2.65 during midday trading on Friday, hitting $144.25. The company had a trading volume of 463,144 shares, compared to its average volume of 724,190. The company’s 50 day moving average price is $130.53 and its 200 day moving average price is $122.36. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.06 and a beta of 1.49. TD SYNNEX has a 52 week low of $99.95 and a 52 week high of $144.48. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

TD SYNNEX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were issued a $0.44 dividend. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.22%. The ex-dividend date was Friday, January 24th. TD SYNNEX’s payout ratio is currently 22.11%.

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.