TD SYNNEX Co. (NYSE:SNX) Short Interest Update

TD SYNNEX Co. (NYSE:SNX) was the recipient of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 1,200,000 shares, a decrease of 20.0% from the January 15th total of 1,500,000 shares. Based on an average daily volume of 646,100 shares, the short-interest ratio is currently 1.9 days.

TD SYNNEX Stock Up 1.9 %

Shares of SNX traded up $2.65 during trading hours on Friday, reaching $144.25. The company’s stock had a trading volume of 463,144 shares, compared to its average volume of 724,190. TD SYNNEX has a 1-year low of $99.95 and a 1-year high of $144.48. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The firm has a market cap of $12.21 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 1.06 and a beta of 1.49. The company has a 50 day moving average of $130.53 and a two-hundred day moving average of $122.36.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were given a $0.44 dividend. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Friday, January 24th. TD SYNNEX’s dividend payout ratio is presently 22.11%.

Insiders Place Their Bets

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 165,604 shares in the company, valued at approximately $23,681,372. The trade was a 3.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,289 shares of company stock worth $3,639,500. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

A number of hedge funds have recently added to or reduced their stakes in SNX. FMR LLC increased its holdings in TD SYNNEX by 18.4% in the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after buying an additional 1,154,651 shares during the last quarter. Norges Bank acquired a new position in shares of TD SYNNEX during the 4th quarter worth $121,199,000. Ninety One UK Ltd increased 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 purchasing an additional 1,016,251 shares during the last quarter. JPMorgan Chase & Co. increased its position in TD SYNNEX by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after buying an additional 813,634 shares during the last quarter. Finally, LSV Asset Management increased its position in TD SYNNEX by 46.9% during the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider’s stock worth $201,235,000 after buying an additional 547,692 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Ratings Changes

SNX has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and increased their price target for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Barclays raised their target price on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research report on Wednesday, January 15th. Two equities 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 an average rating of “Moderate Buy” and an average price target of $144.38.

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.