TD SYNNEX Co. (NYSE:SNX) Announces Quarterly Dividend of $0.44

TD SYNNEX Co. (NYSE:SNX) announced a quarterly dividend on Monday, January 13th,Wall Street Journal reports. Stockholders of record on Friday, January 24th will be paid a dividend of 0.44 per share by the business services provider on Friday, January 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40.

TD SYNNEX has increased its dividend by an average of 26.0% annually over the last three years. TD SYNNEX has a dividend payout ratio of 11.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect TD SYNNEX to earn $11.95 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 13.4%.

TD SYNNEX Trading Down 0.9 %

SNX traded down $1.23 on Monday, reaching $132.78. 1,113,528 shares of the company traded hands, compared to its average volume of 792,750. 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 has a market cap of $11.30 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. The firm has a fifty day simple moving average of $120.14 and a two-hundred day simple moving average of $117.90. TD SYNNEX has a one year low of $98.70 and a one year high of $134.48.

Insider Buying and Selling

In other news, insider David R. Vetter sold 20,000 shares of the company’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 transaction, the insider now directly owns 66,381 shares of the company’s stock, valued at approximately $8,174,156.34. This represents a 23.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Simon Leung sold 6,249 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the sale, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,876 shares of company stock worth $8,196,529 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and increased their price objective for the stock from $122.00 to $147.00 in a research note on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research report on Tuesday, January 7th. Loop Capital restated a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. Barclays increased their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Barrington Research restated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.38.

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.