Richard T. Hume Sells 10,000 Shares of TD SYNNEX Co. (NYSE:SNX) Stock

TD SYNNEX Co. (NYSE:SNX) CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the sale, the chief executive officer now directly owns 219,363 shares in the company, valued at $25,400,041.77. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

TD SYNNEX Stock Performance

Shares of NYSE:SNX opened at $117.63 on Friday. The company’s 50 day moving average price is $110.38 and its two-hundred day moving average price is $103.86. TD SYNNEX Co. has a 12-month low of $86.30 and a 12-month high of $119.87. The firm has a market cap of $10.48 billion, a PE ratio of 17.07, a PEG ratio of 1.08 and a beta of 1.59. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. The firm had revenue of $13.98 billion for the quarter, compared to analyst estimates of $14.37 billion. Equities research analysts predict that TD SYNNEX Co. will post 11.38 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Thursday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 23.22%.

Institutional Trading of TD SYNNEX

A number of institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of TD SYNNEX by 4.7% during the 3rd quarter. FMR LLC now owns 6,853,828 shares of the business services provider’s stock worth $684,423,000 after acquiring an additional 307,844 shares during the period. Vanguard Group Inc. lifted its holdings in shares of TD SYNNEX by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 5,379,928 shares of the business services provider’s stock worth $578,934,000 after acquiring an additional 371,322 shares during the period. Nordea Investment Management AB lifted its holdings in shares of TD SYNNEX by 38.5% during the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock worth $172,081,000 after acquiring an additional 421,908 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of TD SYNNEX by 33,158.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock worth $143,767,000 after acquiring an additional 1,331,988 shares during the period. Finally, Lyrical Asset Management LP lifted its holdings in shares of TD SYNNEX by 0.3% during the 4th quarter. Lyrical Asset Management LP now owns 1,277,884 shares of the business services provider’s stock worth $137,513,000 after acquiring an additional 3,571 shares during the period. Institutional investors own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

SNX has been the topic of a number of research analyst reports. Barclays upped their target price on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $118.00 price target (up previously from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. UBS Group upgraded shares of TD SYNNEX from a “neutral” rating to a “buy” rating and upped their price target for the company from $115.00 to $145.00 in a research note on Tuesday, April 16th. Barrington Research upped their price target on shares of TD SYNNEX from $122.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, Bank of America upped their price target on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.82.

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.