TD SYNNEX Co. (NYSE:SNX) Short Interest Update

TD SYNNEX Co. (NYSE:SNX - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,750,000 shares, a growth of 34.6% from the February 28th total of 1,300,000 shares. Currently, 2.1% of the company's shares are sold short. Based on an average daily volume of 672,000 shares, the days-to-cover ratio is presently 2.6 days.

Wall Street Analyst Weigh In

SNX has been the topic of several recent research reports. Cfra reduced their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a report on Friday, March 28th. JPMorgan Chase & Co. decreased their price target on TD SYNNEX from $150.00 to $125.00 and set a "neutral" rating for the company in a report on Friday, March 28th. The Goldman Sachs Group dropped their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. StockNews.com downgraded shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Finally, Barclays dropped their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $140.00.

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Insider Activity at TD SYNNEX

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the transaction, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. This trade represents a 3.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard T. Hume sold 20,000 shares of the company's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the sale, the director now owns 111,080 shares of the company's stock, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,172 shares of company stock worth $6,353,261. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors have recently modified their holdings of SNX. Vanguard Group Inc. boosted its stake in TD SYNNEX by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider's stock valued at $901,323,000 after acquiring an additional 29,659 shares during the period. FMR LLC boosted its position in TD SYNNEX by 3.2% during the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider's stock valued at $898,738,000 after purchasing an additional 237,587 shares during the period. Brave Warrior Advisors LLC grew its stake in TD SYNNEX by 12.2% during the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider's stock worth $486,380,000 after buying an additional 451,557 shares during the last quarter. JPMorgan Chase & Co. increased its position in TD SYNNEX by 10.7% in the fourth quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider's stock worth $391,188,000 after buying an additional 323,282 shares during the period. Finally, Ninety One UK Ltd lifted its stake in TD SYNNEX by 75.4% in the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider's stock valued at $277,316,000 after buying an additional 1,016,251 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

TD SYNNEX Stock Down 5.8 %

Shares of TD SYNNEX stock traded down $6.15 during trading on Thursday, reaching $100.60. The company had a trading volume of 808,577 shares, compared to its average volume of 738,823. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. TD SYNNEX has a fifty-two week low of $97.42 and a fifty-two week high of $145.10. The firm's fifty day moving average is $133.58 and its 200-day moving average is $125.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm had revenue of $14.53 billion for the quarter, compared to the consensus estimate of $14.79 billion. During the same period in the prior year, the business earned $2.99 EPS. The company's quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts anticipate that TD SYNNEX will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a $0.44 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.75%. TD SYNNEX's payout ratio is currently 21.97%.

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.