Insider Selling: TD SYNNEX Co. (NYSE:SNX) Director Sells 20,000 Shares of Stock

TD SYNNEX Co. (NYSE:SNX) Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the transaction, the director now owns 65,480 shares in the company, valued at $8,897,422.40. This trade represents a 23.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

TD SYNNEX Stock Up 0.5 %

Shares of SNX stock opened at $132.81 on Thursday. The company’s fifty day simple moving average is $135.16 and its two-hundred day simple moving average is $124.66. TD SYNNEX Co. has a 52 week low of $102.23 and a 52 week high of $145.10. The stock has a market cap of $11.21 billion, a P/E ratio of 16.68, a PEG ratio of 1.06 and a beta of 1.49. 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, January 24th. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.33%. TD SYNNEX’s dividend payout ratio is presently 22.11%.

Institutional Trading of TD SYNNEX

Large investors have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of TD SYNNEX during the 4th quarter valued at approximately $6,167,000. Forum Financial Management LP lifted its position in TD SYNNEX by 10.0% during the fourth quarter. Forum Financial Management LP now owns 2,514 shares of the business services provider’s stock valued at $295,000 after purchasing an additional 229 shares during the last quarter. Vise Technologies Inc. purchased a new position in shares of TD SYNNEX in the 4th quarter worth $276,000. CSS LLC IL increased its holdings in shares of TD SYNNEX by 11.7% in the 4th quarter. CSS LLC IL now owns 11,896 shares of the business services provider’s stock worth $1,395,000 after buying an additional 1,250 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of TD SYNNEX by 10.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,557 shares of the business services provider’s stock valued at $22,466,000 after buying an additional 17,683 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SNX shares. Barclays raised their price objective on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. increased their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and lifted their target price for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Finally, Royal Bank of Canada increased their price target on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and an average target price of $147.50.

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.