Insider Selling: TD SYNNEX Co. (NYSE:SNX) CEO Sells 6,823 Shares of Stock

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

TD SYNNEX Trading Down 2.5 %

Shares of NYSE:SNX traded down $3.52 during trading on Monday, hitting $139.00. 787,985 shares of the company’s stock were exchanged, compared to its average volume of 730,175. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The firm has a market cap of $11.77 billion, a P/E ratio of 17.46, a PEG ratio of 1.06 and a beta of 1.48. The firm has a 50-day moving average price of $126.35 and a two-hundred day moving average price of $120.64. TD SYNNEX Co. has a 1-year low of $98.70 and a 1-year high of $144.18.

TD SYNNEX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were given a dividend of $0.44 per share. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. This represents a $1.76 annualized dividend and a dividend yield of 1.27%. TD SYNNEX’s payout ratio is presently 22.11%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SNX shares. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and upped their target price for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Wednesday, January 15th. Barclays lifted 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. Loop Capital restated a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. lifted their price objective on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, TD SYNNEX has an average rating of “Moderate Buy” and an average price target of $144.38.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of 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 in the last quarter. Ninety One UK Ltd lifted its holdings in TD SYNNEX by 75.4% during the fourth 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 in the last quarter. JPMorgan Chase & Co. grew its stake in TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after acquiring an additional 813,634 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of TD SYNNEX by 560.0% in the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock worth $44,639,000 after acquiring an additional 315,424 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised 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 worth $40,488,000 after buying an additional 265,737 shares during the period. Institutional investors and hedge funds own 84.00% 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.