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

TD SYNNEX Co. (NYSE:SNX) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,750,000 shares, an increase of 34.6% from the February 28th total of 1,300,000 shares. Approximately 2.1% of the company’s shares are sold short. Based on an average trading volume of 672,000 shares, the days-to-cover ratio is presently 2.6 days.

Insider Activity at TD SYNNEX

In related news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the sale, the director now owns 4,856 shares in the company, valued at $660,804.48. This trade represents a 14.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of the sale, the chief financial officer now directly owns 49,843 shares of the company’s stock, valued at approximately $6,383,891.44. This trade represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock worth $6,353,261 in the last quarter. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors and hedge funds have recently modified their holdings of SNX. Bartlett & CO. Wealth Management LLC lifted its stake in TD SYNNEX by 345.1% during the 4th 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 period. Bessemer Group Inc. raised its holdings in shares of 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 purchasing an additional 152 shares during the last quarter. UMB Bank n.a. lifted its position 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 valued at $50,000 after purchasing an additional 140 shares during the period. Point72 DIFC Ltd purchased a new stake in TD SYNNEX in the third quarter valued at $55,000. Finally, Blue Trust Inc. grew its position in 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 purchasing an additional 129 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analysts Set New Price Targets

SNX has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a report on Friday. UBS Group decreased their price objective on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Friday. Barrington Research reiterated an “outperform” rating and issued a $156.00 target price on shares of TD SYNNEX in a research note on Friday. Royal Bank of Canada increased their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Finally, Cfra cut their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.00.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock traded down $0.49 during midday trading on Monday, hitting $104.13. The company had a trading volume of 1,584,158 shares, compared to its average volume of 760,761. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.06 and a beta of 1.51. TD SYNNEX has a 12-month low of $98.00 and a 12-month high of $145.10. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $135.67 and a 200 day simple moving average of $125.75.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The company had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same quarter in the previous year, the firm posted $2.99 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, analysts predict that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Friday, April 11th. TD SYNNEX’s payout ratio is 22.11%.

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.