TD SYNNEX Co. (NYSE:SNX) CEO Patrick Zammit Sells 6,823 Shares

TD SYNNEX Co. (NYSE:SNX) CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $23,681,372. This represents a 3.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

TD SYNNEX Stock Performance

SNX opened at $140.10 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The business’s 50-day simple moving average is $127.10 and its 200 day simple moving average is $120.96. The firm has a market capitalization of $11.86 billion, a PE ratio of 17.60, a PEG ratio of 1.06 and a beta of 1.48. TD SYNNEX Co. has a 52-week low of $98.70 and a 52-week high of $144.18.

TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio is presently 22.11%.

Hedge Funds Weigh In On TD SYNNEX

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in TD SYNNEX by 18.4% during the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after purchasing an additional 1,154,651 shares during the period. Ninety One UK Ltd boosted its stake in shares of TD SYNNEX by 75.4% during the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after acquiring an additional 1,016,251 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after acquiring an additional 813,634 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in TD SYNNEX by 560.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock valued at $44,639,000 after acquiring an additional 315,424 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in TD SYNNEX by 325.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 347,451 shares of the business services provider’s stock valued at $40,488,000 after purchasing an additional 265,737 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on SNX. Royal Bank of Canada restated an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a report on Wednesday, January 15th. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price objective for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Barclays increased their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their price objective on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.