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

TD SYNNEX Co. (NYSE:SNX) declared a quarterly dividend on Thursday, March 27th, RTT News reports. Stockholders of record on Friday, April 11th will be paid a dividend of 0.44 per share by the business services provider on Friday, April 25th. This represents a $1.76 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Friday, April 11th.

TD SYNNEX has raised its dividend by an average of 22.1% per year over the last three years. TD SYNNEX has a dividend payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect TD SYNNEX to earn $13.62 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 12.9%.

TD SYNNEX Stock Down 2.9 %

Shares of NYSE SNX opened at $104.45 on Friday. TD SYNNEX has a 52-week low of $98.00 and a 52-week high of $145.10. The business’s 50 day moving average is $135.67 and its two-hundred day moving average is $125.53. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.06 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). The firm had revenue of $14.53 billion for the quarter, compared to analysts’ expectations of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.99 earnings per share. Research analysts predict that TD SYNNEX will post 11.88 EPS for the current year.

Insider Buying and Selling at TD SYNNEX

In related news, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the sale, the chief financial officer now directly owns 49,843 shares in the company, valued at approximately $6,383,891.44. The trade was a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the sale, the chief executive officer now owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,172 shares of company stock worth $6,353,261. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SNX has been the topic of a number of research reports. The Goldman Sachs Group reduced their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Cfra decreased their price objective on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Friday. Barrington Research reissued an “outperform” rating and issued a $156.00 price objective on shares of TD SYNNEX in a report on Friday. Finally, JPMorgan Chase & Co. lowered their target price on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

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.