TD SYNNEX Co. (NYSE:SNX) Sees Significant Growth in Short Interest

TD SYNNEX Co. (NYSE:SNXGet Rating) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 1,360,000 shares, a growth of 25.9% from the March 31st total of 1,080,000 shares. Based on an average daily trading volume, of 333,500 shares, the days-to-cover ratio is presently 4.1 days. Approximately 3.3% of the shares of the company are short sold.

SNX stock opened at $100.40 on Tuesday. TD SYNNEX has a 1 year low of $96.09 and a 1 year high of $130.93. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 0.73. The firm has a market capitalization of $9.65 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 0.88 and a beta of 1.70. The business has a 50 day simple moving average of $104.18 and a 200-day simple moving average of $106.78.

TD SYNNEX (NYSE:SNXGet Rating) last issued its earnings results on Thursday, March 24th. The business services provider reported $3.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.73 by $0.30. TD SYNNEX had a return on equity of 14.87% and a net margin of 1.04%. The company had revenue of $15.47 billion during the quarter, compared to analysts’ expectations of $15.31 billion. During the same period in the prior year, the business earned $1.82 EPS. The firm’s quarterly revenue was up 213.2% on a year-over-year basis. On average, equities research analysts expect that TD SYNNEX will post 11 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 22nd. Shareholders of record on Monday, April 18th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Thursday, April 14th. TD SYNNEX’s dividend payout ratio (DPR) is presently 19.35%.

In related news, CFO Marshall Witt sold 909 shares of the stock in a transaction on Tuesday, February 15th. The shares were sold at an average price of $102.57, for a total transaction of $93,236.13. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Hau L. Lee sold 1,184 shares of TD SYNNEX stock in a transaction on Friday, April 8th. The shares were sold at an average price of $98.88, for a total transaction of $117,073.92. Following the completion of the transaction, the director now directly owns 27,151 shares of the company’s stock, valued at approximately $2,684,690.88. The disclosure for this sale can be found here. Insiders sold 5,911 shares of company stock worth $601,980 in the last 90 days. Company insiders own 1.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of SNX. Montag A & Associates Inc. raised its position in shares of TD SYNNEX by 142.9% during the 1st quarter. Montag A & Associates Inc. now owns 2,975 shares of the business services provider’s stock valued at $307,000 after buying an additional 1,750 shares during the period. Beck Bode LLC acquired a new position in shares of TD SYNNEX in the 1st quarter valued at $1,717,000. Mutual of America Capital Management LLC grew its holdings in shares of TD SYNNEX by 2.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 37,799 shares of the business services provider’s stock worth $3,901,000 after purchasing an additional 873 shares during the period. Signaturefd LLC increased its position in shares of TD SYNNEX by 89.3% during the 1st quarter. Signaturefd LLC now owns 566 shares of the business services provider’s stock worth $58,000 after purchasing an additional 267 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in TD SYNNEX by 61.4% in the 1st quarter. SG Americas Securities LLC now owns 21,858 shares of the business services provider’s stock valued at $2,256,000 after buying an additional 8,315 shares during the period. 85.54% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on the company. StockNews.com assumed coverage on TD SYNNEX in a research note on Thursday, March 31st. They set a “hold” rating for the company. Citigroup increased their price objective on shares of TD SYNNEX from $155.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 12th. Loop Capital boosted their target price on shares of TD SYNNEX from $165.00 to $175.00 in a research note on Wednesday, January 12th. Cross Research raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a research note on Wednesday, January 12th. Finally, Raymond James boosted their price objective on TD SYNNEX from $170.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 25th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, TD SYNNEX has a consensus rating of “Buy” and an average price target of $144.00.

About TD SYNNEX (Get Rating)

TD SYNNEX Corporation provides business process services in the United States and internationally. The company distributes PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, consumer electronics, information technology (IT) systems including data center server and storage solutions, system components, software, networking, communications and security equipment, consumer electronics, and complementary products.

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