TD SYNNEX Co. (NYSE:SNX) Insider David R. Vetter Sells 20,000 Shares

by · The Markets Daily

TD SYNNEX Co. (NYSE:SNX – Get Free Report) insider David R. Vetter sold 20,000 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $123.14, for a total transaction of $2,462,800.00. Following the completion of the transaction, the insider now owns 66,381 shares of the company’s stock, valued at approximately $8,174,156.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

TD SYNNEX Price Performance

Shares of SNX traded down $1.47 during mid-day trading on Monday, hitting $120.75. The company’s stock had a trading volume of 582,193 shares, compared to its average volume of 804,160. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The firm has a 50-day moving average price of $117.54 and a 200 day moving average price of $119.16. TD SYNNEX Co. has a fifty-two week low of $89.73 and a fifty-two week high of $133.85. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.23 and a beta of 1.48.

TD SYNNEX (NYSE:SNX – Get Free Report) last posted its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. During the same quarter in the previous year, the business posted $2.71 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts predict that TD SYNNEX Co. will post 11.06 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.33%. TD SYNNEX’s dividend payout ratio (DPR) is 20.70%.

Institutional Trading of TD SYNNEX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of TD SYNNEX by 23.4% in the first quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock worth $751,143,000 after acquiring an additional 1,261,474 shares in the last quarter. Pacer Advisors Inc. raised its stake in TD SYNNEX by 58.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock valued at $313,469,000 after purchasing an additional 1,006,569 shares during the period. Ninety One UK Ltd raised its stake in TD SYNNEX by 131.0% during the 2nd quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock valued at $158,298,000 after purchasing an additional 777,924 shares during the period. Lind Value II ApS purchased a new stake in shares of TD SYNNEX in the first quarter valued at $77,858,000. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of TD SYNNEX in the first quarter worth $57,981,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on SNX shares. Barclays raised their target price on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Loop Capital restated a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. Barrington Research reiterated an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. Bank of America lowered their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Finally, UBS Group upped their price target on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and a consensus target price of $134.75.

Check Out Our Latest Analysis on SNX

TD SYNNEX Company Profile

(Get Free Report)

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.

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