TD SYNNEX (NYSE:SNX) Director Richard Hume Sells 5,000 Shares of Stock

TD SYNNEX Corporation (NYSE:SNX) Director Richard Hume sold 5,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $280.38, for a total transaction of $1,401,900.00. Following the sale, the director directly owned 23,537 shares in the company, valued at $6,599,304.06. This trade represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $278.72 on Thursday. TD SYNNEX Corporation has a one year low of $120.19 and a one year high of $286.25. The company’s 50-day moving average is $217.79 and its 200 day moving average is $177.11. The company has a market capitalization of $22.41 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 1.20 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, beating the consensus estimate of $3.24 by $1.49. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The company had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $15.59 billion. During the same period in the prior year, the firm posted $2.80 EPS. TD SYNNEX’s revenue for the quarter was up 18.1% on a year-over-year basis. Sell-side analysts expect that TD SYNNEX Corporation will post 15.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, April 15th. TD SYNNEX’s dividend payout ratio is 15.96%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Gamco Investors INC. ET AL raised its position in TD SYNNEX by 1.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 4,667 shares of the business services provider’s stock worth $787,000 after buying an additional 52 shares during the last quarter. Essex Financial Services Inc. increased its holdings in shares of TD SYNNEX by 2.9% during the 1st quarter. Essex Financial Services Inc. now owns 1,957 shares of the business services provider’s stock valued at $330,000 after purchasing an additional 56 shares in the last quarter. Kesler Norman & Wride LLC increased its holdings in shares of TD SYNNEX by 0.7% during the 1st quarter. Kesler Norman & Wride LLC now owns 8,581 shares of the business services provider’s stock valued at $1,448,000 after purchasing an additional 61 shares in the last quarter. SJS Investment Consulting Inc. increased its holdings in TD SYNNEX by 44.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider’s stock worth $34,000 after acquiring an additional 62 shares in the last quarter. Finally, Cornerstone Wealth Management LLC increased its holdings in TD SYNNEX by 3.8% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 1,895 shares of the business services provider’s stock worth $310,000 after acquiring an additional 69 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SNX has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 target price on the stock in a report on Wednesday, May 27th. Weiss Ratings upgraded shares of TD SYNNEX from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday. Zacks Research cut TD SYNNEX from a “strong-buy” rating to a “hold” rating in a report on Monday. Barclays boosted their price target on shares of TD SYNNEX from $166.00 to $237.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Finally, Barrington Research restated an “outperform” rating and issued a $182.00 price target on shares of TD SYNNEX in a research report on Friday, March 27th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.60.

About TD SYNNEX

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.