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

TD SYNNEX Co. (NYSE:SNX) declared a quarterly dividend on Thursday, September 26th, Zacks reports. Shareholders of record on Friday, October 11th will be paid a dividend of 0.40 per share by the business services provider on Friday, October 25th. This represents a $1.60 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Friday, October 11th.

TD SYNNEX has raised its dividend by an average of 51.8% annually over the last three years. TD SYNNEX has a dividend payout ratio of 12.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect TD SYNNEX to earn $12.14 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 13.2%.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $119.67 on Friday. The firm has a fifty day moving average of $116.22 and a two-hundred day moving average of $117.86. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.26. The stock has a market capitalization of $10.23 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.18 and a beta of 1.49. TD SYNNEX has a 52 week low of $89.73 and a 52 week high of $133.85.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The business had revenue of $14.68 billion during the quarter, compared to the consensus estimate of $14.11 billion. During the same quarter in the prior year, the company posted $2.71 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts predict that TD SYNNEX will post 11.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on SNX. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a report on Friday. Bank of America lowered their target price on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. JPMorgan Chase & Co. lowered their price objective on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Finally, StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.57.

Insider Buying and Selling at TD SYNNEX

In related news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the sale, the chief financial officer now owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the completion of the transaction, the chief financial officer now directly owns 45,115 shares in the company, valued at approximately $4,968,966.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Patrick Zammit sold 3,513 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $113.28, for a total transaction of $397,952.64. Following the sale, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. The disclosure for this sale can be found here. Insiders sold 15,188 shares of company stock valued at $1,685,455 in the last quarter. Company insiders own 1.90% of the company’s stock.

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.