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

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price objective for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Barclays lifted their price objective on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. 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. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research report on Wednesday, January 15th. Finally, StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $144.38.

TD SYNNEX Stock Performance

Shares of NYSE SNX traded up $2.65 during trading hours on Friday, hitting $144.25. 463,144 shares of the company’s stock were exchanged, 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 debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The stock has a market capitalization of $12.21 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.06 and a beta of 1.49. The company’s 50-day moving average price is $130.53 and its 200-day moving average price is $122.33.

TD SYNNEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s payout ratio is currently 22.11%.

Insider Buying and Selling

In other news, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the transaction, the director now owns 111,080 shares in the company, valued at $13,065,229.60. This represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,289 shares of company stock worth $3,639,500 in the last three months. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TD SYNNEX

Large investors have recently made changes to their positions in the business. Pathstone Holdings LLC lifted its position in shares of TD SYNNEX by 45.2% during the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after purchasing an additional 5,698 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after purchasing an additional 813,634 shares during the last quarter. Stratos Investment Management LLC lifted its position in shares of TD SYNNEX by 5.6% during the 3rd quarter. Stratos Investment Management LLC now owns 28,115 shares of the business services provider’s stock worth $3,376,000 after purchasing an additional 1,486 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of TD SYNNEX by 170.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 81,714 shares of the business services provider’s stock worth $9,812,000 after purchasing an additional 51,465 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in TD SYNNEX during the fourth quarter valued at about $2,260,000. Institutional investors and hedge funds own 84.00% 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.