TD SYNNEX Co. (NYSE:SNX) Short Interest Down 29.1% in December

TD SYNNEX Co. (NYSE:SNX) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 1,440,000 shares, a drop of 29.1% from the December 15th total of 2,030,000 shares. Based on an average daily volume of 610,100 shares, the days-to-cover ratio is presently 2.4 days.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Barrington Research reissued an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Barclays lifted their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Tuesday. Loop Capital reaffirmed a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. Finally, Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $144.38.

TD SYNNEX Price Performance

Shares of NYSE SNX traded up $0.21 during trading on Wednesday, hitting $136.25. The company had a trading volume of 1,007,625 shares, compared to its average volume of 830,669. TD SYNNEX has a fifty-two week low of $98.70 and a fifty-two week high of $138.04. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $120.83 and a two-hundred day simple moving average of $118.16. The firm has a market capitalization of $11.59 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46.

TD SYNNEX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.29%. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, January 24th. TD SYNNEX’s dividend payout ratio is 22.11%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the transaction, the insider now directly owns 23,339 shares of the company’s stock, valued at $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now owns 111,080 shares in the company, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,876 shares of company stock worth $5,782,129 over the last 90 days. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its holdings in shares of TD SYNNEX by 18.4% during the 3rd 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. Pacer Advisors Inc. increased its position in shares of TD SYNNEX by 58.9% during the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock worth $313,469,000 after acquiring an additional 1,006,569 shares during the period. JPMorgan Chase & Co. increased its holdings in 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 period. Thrivent Financial for Lutherans raised its holdings in TD SYNNEX by 560.0% in the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock valued at $44,639,000 after acquiring an additional 315,424 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of TD SYNNEX by 21.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock valued at $178,421,000 after purchasing an additional 269,759 shares in the last quarter. 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.