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 company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $233.85, for a total transaction of $1,169,250.00. Following the sale, the director owned 33,537 shares of the company’s stock, valued at approximately $7,842,627.45. The trade was a 12.97% 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TD SYNNEX Stock Performance

NYSE SNX opened at $234.23 on Thursday. The company has a 50-day simple moving average of $183.18 and a two-hundred day simple moving average of $164.54. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 0.41. TD SYNNEX Corporation has a 12-month low of $114.04 and a 12-month high of $236.00. The firm has a market cap of $18.83 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.02 and a beta of 1.40.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (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 business had revenue of $17.16 billion during the quarter, compared to analyst estimates of $15.59 billion. During the same period in the prior year, the business posted $2.80 earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. On average, equities analysts forecast that TD SYNNEX Corporation will post 15.69 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, April 15th. TD SYNNEX’s dividend payout ratio is currently 15.96%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted its stake in shares of TD SYNNEX by 0.4% during the 3rd quarter. State Street Corp now owns 2,372,733 shares of the business services provider’s stock valued at $388,535,000 after buying an additional 9,024 shares in the last quarter. Ninety One UK Ltd lifted its stake in shares of TD SYNNEX by 13.1% during the 4th quarter. Ninety One UK Ltd now owns 2,229,091 shares of the business services provider’s stock valued at $334,876,000 after buying an additional 258,630 shares in the last quarter. LSV Asset Management lifted its stake in shares of TD SYNNEX by 16.1% during the 4th quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider’s stock valued at $313,471,000 after buying an additional 288,625 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of TD SYNNEX by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider’s stock valued at $230,315,000 after buying an additional 99,090 shares in the last quarter. Finally, Metropolis Capital Ltd lifted its stake in shares of TD SYNNEX by 9.5% during the 1st quarter. Metropolis Capital Ltd now owns 1,281,307 shares of the business services provider’s stock valued at $216,169,000 after buying an additional 111,222 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SNX shares. UBS Group increased their target price on shares of TD SYNNEX from $193.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank Of Canada increased their target price on shares of TD SYNNEX from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. The Goldman Sachs Group increased their target price on shares of TD SYNNEX from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Barclays raised their price objective on shares of TD SYNNEX from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $197.70.

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.