TD SYNNEX Co. (NYSE:SNX) CEO Sells $1,157,900.00 in Stock

TD SYNNEX Co. (NYSE:SNX) CEO Richard T. Hume sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total value of $1,157,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,363 shares in the company, valued at approximately $25,400,041.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

TD SYNNEX Stock Up 1.0 %

Shares of SNX stock opened at $117.61 on Friday. The stock’s fifty day moving average price is $110.67 and its 200 day moving average price is $104.01. TD SYNNEX Co. has a 1-year low of $86.30 and a 1-year high of $119.87. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 1.09 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75.

TD SYNNEX (NYSE:SNX) last released its earnings results on Tuesday, March 26th. The business services provider reported $2.83 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 company had revenue of $13.98 billion during the quarter, compared to analysts’ expectations of $14.37 billion. On average, research analysts expect that TD SYNNEX Co. will post 11.38 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNX. Benjamin F. Edwards & Company Inc. boosted its position in TD SYNNEX by 121.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after buying an additional 140 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of TD SYNNEX in the 1st quarter valued at $32,000. Pineridge Advisors LLC acquired a new stake in shares of TD SYNNEX in the fourth quarter worth $33,000. Daiwa Securities Group Inc. purchased a new position in shares of TD SYNNEX during the first quarter worth $68,000. Finally, Gladius Capital Management LP lifted its position in TD SYNNEX by 50.8% during the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after purchasing an additional 250 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays raised their price target on TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 27th. Barrington Research boosted their price target on shares of TD SYNNEX from $122.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Royal Bank of Canada reiterated a “sector perform” rating and set a $118.00 price objective (up from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. Bank of America boosted their price objective on shares of TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, UBS Group raised TD SYNNEX from a “neutral” rating to a “buy” rating and increased their target price for the company from $115.00 to $145.00 in a research report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average 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.