TD SYNNEX Co. (NYSE:SNX) Director Sells $2,717,600.00 in Stock

TD SYNNEX Co. (NYSE:SNX - Get Free Report) Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $135.88, for a total value of $2,717,600.00. Following the completion of the transaction, the director now owns 65,480 shares in the company, valued at approximately $8,897,422.40. This trade represents a 23.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

TD SYNNEX Stock Performance

NYSE:SNX traded down $0.03 during midday trading on Friday, reaching $129.29. 599,235 shares of the company traded hands, compared to its average volume of 722,036. TD SYNNEX Co. has a twelve month low of $102.23 and a twelve month high of $145.10. The firm has a market capitalization of $10.91 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The company has a fifty day moving average price of $135.62 and a 200 day moving average price of $124.75.

TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a yield of 1.36%. This is a positive change from TD SYNNEX's previous quarterly dividend of $0.40. TD SYNNEX's payout ratio is currently 22.11%.

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Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SNX shares. Barclays increased their target price on 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 increased their target price on TD SYNNEX from $140.00 to $165.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. increased their target price on TD SYNNEX from $135.00 to $150.00 and gave the company a "neutral" rating in a research note on Monday, January 13th. Cfra upgraded TD SYNNEX from a "hold" rating to a "buy" rating and raised their price objective for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Finally, StockNews.com lowered TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, TD SYNNEX presently has an average rating of "Moderate Buy" and a consensus price target of $147.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNX. FMR LLC boosted its position in TD SYNNEX by 18.4% during the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider's stock valued at $891,665,000 after purchasing an additional 1,154,651 shares during the period. Norges Bank acquired a new position in TD SYNNEX during the 4th quarter worth $121,199,000. Ninety One UK Ltd boosted its position in TD SYNNEX by 75.4% during the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider's stock worth $277,316,000 after acquiring an additional 1,016,251 shares during the period. Nuveen Asset Management LLC boosted its position in TD SYNNEX by 343.2% during the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider's stock worth $141,913,000 after acquiring an additional 937,040 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock worth $361,707,000 after acquiring an additional 813,634 shares during the period. Institutional investors and hedge funds own 84.00% of the company's stock.

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.