TD SYNNEX Co. (NYSE:SNX) CFO Sells $193,400.80 in Stock

TD SYNNEX Co. (NYSE:SNX - Get Free Report) CFO Marshall Witt sold 1,510 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the sale, the chief financial officer now owns 49,843 shares of the company's stock, valued at $6,383,891.44. This represents a 2.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

TD SYNNEX Trading Down 1.4 %

Shares of TD SYNNEX stock traded down $1.81 during trading hours on Friday, hitting $127.77. The company's stock had a trading volume of 1,808,968 shares, compared to its average volume of 729,836. TD SYNNEX Co. has a 12 month low of $104.93 and a 12 month high of $145.10. The stock has a 50 day moving average of $137.36 and a 200 day moving average of $125.47. The company has a market capitalization of $10.78 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

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 dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from TD SYNNEX's previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.38%. TD SYNNEX's dividend payout ratio (DPR) is presently 22.11%.

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Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SNX shares. Barrington Research upped their price objective on TD SYNNEX from $138.00 to $156.00 and gave the company an "outperform" rating in a report on Thursday. Barclays upped their price objective on TD SYNNEX from $132.00 to $148.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. JPMorgan Chase & Co. upped their price objective on TD SYNNEX from $135.00 to $150.00 and gave the company a "neutral" rating in a report on Monday, January 13th. Cfra upgraded TD SYNNEX from a "hold" rating to a "buy" rating and upped their price objective for the company from $122.00 to $147.00 in a report on Friday, January 10th. Finally, StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $149.75.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC grew its holdings in shares of 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 worth $27,000 after buying an additional 176 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after buying an additional 152 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of TD SYNNEX by 48.4% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock worth $50,000 after buying an additional 140 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of TD SYNNEX during the third quarter worth about $55,000. Finally, Blue Trust Inc. grew its holdings in shares of TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock worth $55,000 after buying an additional 129 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Company Profile

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.