Richard T. Hume Sells 20,000 Shares of TD SYNNEX Co. (NYSE:SNX) Stock

TD SYNNEX Co. (NYSE:SNX) Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the completion of the sale, the director now directly owns 65,480 shares of the company’s stock, valued at approximately $8,897,422.40. This represents a 23.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

TD SYNNEX Trading Down 1.9 %

Shares of SNX traded down $2.63 during midday trading on Tuesday, hitting $132.39. The stock had a trading volume of 659,848 shares, compared to its average volume of 720,007. The business has a 50-day simple moving average of $134.90 and a two-hundred day simple moving average of $124.56. The firm has a market cap of $11.17 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a fifty-two week low of $102.23 and a fifty-two week high of $145.10.

TD SYNNEX Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SNX. Royal Bank of Canada upped their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. lifted their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Barclays increased their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Finally, Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

Institutional Trading of TD SYNNEX

Several large investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of TD SYNNEX during the fourth quarter valued at $6,167,000. Forum Financial Management LP grew its stake in TD SYNNEX by 10.0% during the 4th quarter. Forum Financial Management LP now owns 2,514 shares of the business services provider’s stock valued at $295,000 after acquiring an additional 229 shares in the last quarter. Vise Technologies Inc. acquired a new position in shares of TD SYNNEX in the 4th quarter valued at about $276,000. CSS LLC IL lifted its position in shares of TD SYNNEX by 11.7% in the fourth quarter. CSS LLC IL now owns 11,896 shares of the business services provider’s stock worth $1,395,000 after purchasing an additional 1,250 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of TD SYNNEX by 10.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,557 shares of the business services provider’s stock worth $22,466,000 after purchasing an additional 17,683 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

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.