TD SYNNEX Co. (NYSE:SNX) Announces $0.40 Quarterly Dividend

TD SYNNEX Co. (NYSE:SNX) declared a quarterly dividend on Tuesday, June 25th, Zacks reports. Shareholders of record on Friday, July 12th will be given a dividend of 0.40 per share by the business services provider on Friday, July 26th. This represents a $1.60 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Friday, July 12th.

TD SYNNEX has increased its dividend by an average of 51.8% annually over the last three years. TD SYNNEX has a payout ratio of 12.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect TD SYNNEX to earn $12.24 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 13.1%.

TD SYNNEX Stock Performance

Shares of SNX opened at $110.35 on Thursday. The stock has a market capitalization of $9.43 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 1.11 and a beta of 1.52. The business’s fifty day moving average price is $123.94 and its 200 day moving average price is $113.00. 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 has a 12-month low of $89.73 and a 12-month high of $133.85.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SNX. Bank of America reduced their price target on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Barclays lifted their target price on TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 27th. Cfra raised their price target on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a report on Tuesday, March 26th. Barrington Research restated an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research note on Wednesday, June 26th. Finally, UBS Group raised their target price on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.78.

Insider Activity

In related news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the sale, the insider now directly owns 134,706 shares in the company, valued at $15,580,095.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total value of $1,157,900.00. Following the transaction, the chief executive officer now owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,580,095.96. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

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.