TD SYNNEX Co. (NYSE:SNX) CFO Sells $1,260,111.74 in Stock

TD SYNNEX Co. (NYSE:SNX) CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the transaction, the chief financial officer now directly owns 45,115 shares in the company, valued at $4,968,966.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

TD SYNNEX Trading Up 0.7 %

Shares of NYSE:SNX opened at $111.99 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.26. The stock’s 50-day moving average is $119.56 and its 200-day moving average is $114.46. The company has a market cap of $9.57 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.09 and a beta of 1.52. TD SYNNEX Co. has a 52-week low of $89.73 and a 52-week high of $133.85.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 EPS for the quarter, missing the consensus estimate of $2.66 by ($0.05). TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The business had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $14.12 billion. Equities research analysts predict that TD SYNNEX Co. will post 11.22 earnings per share for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 1.43%. TD SYNNEX’s payout ratio is 22.41%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SNX shares. Royal Bank of Canada raised shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $135.00 to $140.00 in a research note on Monday, July 15th. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. dropped their price objective on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. UBS Group boosted their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, Bank of America cut their price target on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $127.33.

Hedge Funds Weigh In On TD SYNNEX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in shares of TD SYNNEX by 38.5% in the first quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock valued at $172,081,000 after purchasing an additional 421,908 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in TD SYNNEX by 63.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 164,999 shares of the business services provider’s stock valued at $17,756,000 after buying an additional 64,024 shares during the period. Norges Bank acquired a new position in shares of TD SYNNEX in the 4th quarter valued at $79,506,000. Principal Financial Group Inc. boosted its position in shares of TD SYNNEX by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 733,239 shares of the business services provider’s stock valued at $78,904,000 after acquiring an additional 13,730 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of TD SYNNEX during the 1st quarter valued at about $57,981,000. 84.00% of the stock is currently owned by institutional investors.

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.