TD SYNNEX Co. (NYSE:SNX) CFO Marshall Witt Sells 1,510 Shares of Stock

TD SYNNEX Co. (NYSE:SNX) CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the transaction, the chief financial officer now directly owns 49,843 shares in the company, valued at approximately $6,383,891.44. This represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

TD SYNNEX Stock Performance

SNX stock opened at $132.13 on Thursday. TD SYNNEX Co. has a twelve month low of $102.77 and a twelve month high of $145.10. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $137.34 and its two-hundred day simple moving average is $125.26. The firm has a market cap of $11.15 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.06 and a beta of 1.51.

TD SYNNEX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.33%. The ex-dividend date was Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.11%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNX. Bartlett & CO. Wealth Management LLC increased its position in shares of TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after acquiring an additional 152 shares during the last quarter. UMB Bank n.a. boosted its stake in TD SYNNEX by 48.4% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after buying an additional 140 shares during the last quarter. Point72 DIFC Ltd acquired a new position in TD SYNNEX during the third quarter worth $55,000. Finally, Blue Trust Inc. boosted its stake in TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after buying an additional 129 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNX has been the topic of a number of research reports. Barclays boosted 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, January 13th. Royal Bank of Canada upped their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $122.00 to $147.00 in a report on Friday, January 10th. JPMorgan Chase & Co. increased their target price on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Finally, StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

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.