TD SYNNEX Co. (NYSE:SNX) Director Merline Saintil Sells 117 Shares

TD SYNNEX Co. (NYSE:SNX) Director Merline Saintil sold 117 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $118.95, for a total transaction of $13,917.15. Following the completion of the transaction, the director now owns 5,982 shares in the company, valued at approximately $711,558.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

TD SYNNEX Trading Down 1.7 %

Shares of TD SYNNEX stock traded down $2.01 during trading on Thursday, hitting $117.16. The stock had a trading volume of 560,571 shares, compared to its average volume of 892,463. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78. TD SYNNEX Co. has a 12 month low of $89.73 and a 12 month high of $133.85. The stock has a market cap of $10.01 billion, a PE ratio of 16.32, a PEG ratio of 1.17 and a beta of 1.52. The firm’s fifty day simple moving average is $122.28 and its 200-day simple moving average is $114.07.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, June 25th. The business services provider reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). The company had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $14.12 billion. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. As a group, sell-side analysts expect that TD SYNNEX Co. will post 11.24 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.37%. TD SYNNEX’s payout ratio is 22.41%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Wednesday, June 26th. UBS Group increased their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Bank of America reduced their price objective on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Finally, Royal Bank of Canada raised TD SYNNEX from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $135.00 to $140.00 in a report on Monday, July 15th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TD SYNNEX has a consensus rating of “Moderate Buy” and an average price target of $127.33.

Institutional Trading of TD SYNNEX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNX. CIBC Asset Management Inc acquired a new stake in TD SYNNEX during the second quarter worth about $291,000. Natixis Advisors LLC lifted its stake in shares of TD SYNNEX by 31.6% in the second quarter. Natixis Advisors LLC now owns 70,824 shares of the business services provider’s stock worth $8,173,000 after buying an additional 17,025 shares in the last quarter. Essex Financial Services Inc. acquired a new position in shares of TD SYNNEX during the 2nd quarter worth approximately $227,000. nVerses Capital LLC acquired a new stake in shares of TD SYNNEX in the 2nd quarter worth $473,000. Finally, Commonwealth Equity Services LLC acquired a new position in TD SYNNEX in the 2nd quarter valued at about $351,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

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.