TD SYNNEX Co. (NYSE:SNX) CFO Sells $193,400.80 in Stock

TD SYNNEX Co. (NYSE:SNX) CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the transaction, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. This trade represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

TD SYNNEX Price Performance

Shares of NYSE:SNX traded up $3.28 during mid-day trading on Wednesday, reaching $132.13. The stock had a trading volume of 521,874 shares, compared to its average volume of 723,279. 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 company has a market cap of $11.15 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. TD SYNNEX Co. has a 1 year low of $102.77 and a 1 year high of $145.10. The business’s 50 day moving average price is $137.34 and its 200 day moving average price is $125.26.

TD SYNNEX Increases Dividend

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

Institutional Investors Weigh In On TD SYNNEX

Hedge funds have recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC lifted its position in shares of TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares in the last quarter. Bessemer Group Inc. increased its stake in TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after acquiring an additional 152 shares during the last quarter. UMB Bank n.a. increased its stake in TD SYNNEX by 48.4% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after acquiring an additional 140 shares during the last quarter. Point72 DIFC Ltd bought a new stake in TD SYNNEX during the third quarter worth approximately $55,000. Finally, Blue Trust Inc. increased its stake in TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after acquiring an additional 129 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNX has been the topic of a number of recent research reports. Barclays raised their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and raised their target price for the stock from $122.00 to $147.00 in a report on Friday, January 10th. JPMorgan Chase & Co. raised their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada raised their price target on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.