Insider Selling: TD SYNNEX Co. (NYSE:SNX) CFO Sells 1,510 Shares of Stock

TD SYNNEX Co. (NYSE:SNX) CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the transaction, the chief financial officer now directly owns 49,843 shares of the company’s stock, valued at approximately $6,383,891.44. The trade was a 2.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $127.77 on Friday. The business’s 50 day simple moving average is $137.36 and its 200 day simple moving average is $125.34. TD SYNNEX Co. has a one year low of $104.40 and a one year high of $145.10. The stock has a market capitalization of $10.78 billion, a PE ratio of 16.05, a PEG ratio of 1.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were issued a $0.44 dividend. The ex-dividend date was Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.38%. TD SYNNEX’s dividend payout ratio is presently 22.11%.

Wall Street Analyst Weigh In

Several research analysts have commented on SNX shares. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Tuesday. Barclays upped their price objective 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. Barrington Research upped their price objective on TD SYNNEX from $138.00 to $156.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Royal Bank of Canada upped their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.75.

Institutional Trading of TD SYNNEX

Several institutional investors have recently added to or reduced their stakes in SNX. Bartlett & CO. Wealth Management LLC boosted its holdings in 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 valued at $27,000 after acquiring an additional 176 shares during the last quarter. Bessemer Group Inc. boosted its holdings in TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 152 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of TD SYNNEX by 48.4% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after buying an additional 140 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of TD SYNNEX during the 3rd quarter worth approximately $55,000. Finally, Blue Trust Inc. boosted its holdings in shares of TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after buying an additional 129 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

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.