Dennis Polk Sells 15,689 Shares of TD SYNNEX Co. (NYSE:SNX) Stock

by · The Cerbat Gem

TD SYNNEX Co. (NYSE:SNX – Get Free Report) insider Dennis Polk sold 15,689 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,751,172.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

TD SYNNEX Stock Up 1.7 %

SNX stock opened at $117.31 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. TD SYNNEX Co. has a 52-week low of $89.73 and a 52-week high of $133.85. The company has a 50-day moving average of $116.22 and a two-hundred day moving average of $118.34. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.48.

TD SYNNEX (NYSE:SNX – Get Free Report) last released its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The company had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. During the same period in the prior year, the company earned $2.71 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate that TD SYNNEX Co. will post 11.06 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s payout ratio is presently 22.41%.

Institutional Investors Weigh In On TD SYNNEX

Several hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC lifted its stake in shares of TD SYNNEX by 3.2% in the first quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock valued at $315,000 after buying an additional 86 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in TD SYNNEX by 3.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock worth $315,000 after purchasing an additional 90 shares in the last quarter. Fifth Third Bancorp raised its position in TD SYNNEX by 11.1% in the second quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock worth $123,000 after purchasing an additional 106 shares in the last quarter. SummerHaven Investment Management LLC raised its position in TD SYNNEX by 1.5% in the second quarter. SummerHaven Investment Management LLC now owns 7,704 shares of the business services provider’s stock worth $889,000 after purchasing an additional 116 shares in the last quarter. Finally, Blue Trust Inc. raised its position in TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after purchasing an additional 123 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a report on Friday, September 27th. JPMorgan Chase & Co. decreased their price objective on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. UBS Group upped their price objective on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, Barrington Research reiterated an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a report on Monday, September 23rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.57.

View Our Latest Stock Analysis on TD SYNNEX

About TD SYNNEX

(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.

See Also