Marshall Witt Sells 1,509 Shares of TD SYNNEX Corporation (NYSE:SNX) Stock

TD SYNNEX Corporation (NYSE:SNX) CFO Marshall Witt sold 1,509 shares of TD SYNNEX stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total transaction of $189,153.15. Following the completion of the sale, the chief financial officer now directly owns 49,563 shares of the company’s stock, valued at approximately $6,212,722.05. This trade represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

TD SYNNEX Stock Down 0.2%

TD SYNNEX stock opened at $124.42 on Friday. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The stock has a market cap of $10.44 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.06 and a beta of 1.29. The firm’s 50-day simple moving average is $118.23 and its 200 day simple moving average is $123.97. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 1.27.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a return on equity of 11.54% and a net margin of 1.16%. The firm had revenue of $14.53 billion for the quarter, compared to analysts’ expectations of $14.79 billion. During the same quarter last year, the firm posted $2.99 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. Research analysts predict that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Friday, April 11th. TD SYNNEX’s payout ratio is 21.97%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SNX shares. JPMorgan Chase & Co. reduced their price objective on shares of TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, April 11th. UBS Group reduced their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a report on Friday, March 28th. Royal Bank Of Canada reduced their price objective on shares of TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Barrington Research reiterated an “outperform” rating and set a $156.00 price objective on shares of TD SYNNEX in a report on Friday, April 11th. Finally, Barclays reduced their price objective on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. Three investment analysts have rated the stock with a hold rating and eight 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 an average price target of $138.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in TD SYNNEX by 329.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 188 shares during the last quarter. Bessemer Group Inc. boosted its stake in TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 152 shares during the last quarter. Versant Capital Management Inc boosted its stake in TD SYNNEX by 115.1% in the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 183 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in TD SYNNEX in the first quarter valued at about $44,000. Finally, Quarry LP purchased a new position in TD SYNNEX in the first quarter valued at about $51,000. 84.00% of the stock is currently owned by hedge funds and other 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.