TD SYNNEX Co. (NYSE:SNX) Insider David R. Vetter Sells 20,000 Shares

TD SYNNEX Co. (NYSE:SNX) insider David R. Vetter sold 20,000 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $123.14, for a total transaction of $2,462,800.00. Following the sale, the insider now directly owns 66,381 shares in the company, valued at approximately $8,174,156.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

TD SYNNEX Price Performance

SNX stock opened at $120.75 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $117.54 and its 200 day simple moving average is $119.16. TD SYNNEX Co. has a 12-month low of $89.73 and a 12-month high of $133.85. The firm has a market cap of $10.27 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.23 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The business had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. During the same quarter last year, the firm posted $2.71 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. On average, analysts expect that TD SYNNEX Co. will post 11.06 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s dividend payout ratio is presently 20.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their target price on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Barclays upped their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Loop Capital reissued a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a report on Monday, October 7th. Bank of America decreased their price target on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.75.

Institutional Investors Weigh In On TD SYNNEX

Several hedge funds and other institutional investors have recently bought and sold shares of SNX. ProShare Advisors LLC increased its holdings in shares of TD SYNNEX by 3.2% during the first quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock valued at $315,000 after acquiring an additional 86 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in TD SYNNEX by 3.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock valued at $315,000 after purchasing an additional 90 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in TD SYNNEX by 1.3% during the third quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock worth $929,000 after buying an additional 100 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of TD SYNNEX by 11.1% in the second quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock valued at $123,000 after buying an additional 106 shares in the last quarter. Finally, SummerHaven Investment Management LLC grew its holdings in shares of TD SYNNEX by 1.5% during the second quarter. SummerHaven Investment Management LLC now owns 7,704 shares of the business services provider’s stock valued at $889,000 after buying an additional 116 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

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.