Insider Selling: TD SYNNEX Co. (NYSE:SNX) CEO Sells 6,823 Shares of Stock

TD SYNNEX Co. (NYSE:SNX) CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $139.00 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a twelve month low of $98.70 and a twelve month high of $144.18. The stock has a 50 day moving average of $126.71 and a two-hundred day moving average of $120.79. The stock has a market cap of $11.77 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.06 and a beta of 1.48.

TD SYNNEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio is 22.11%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SNX shares. 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. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and upped their price target for the company from $122.00 to $147.00 in a report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Wednesday, January 15th. Barclays upped their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.38.

Institutional Investors Weigh In On TD SYNNEX

Several large investors have recently modified their holdings of SNX. Bartlett & CO. Wealth Management LLC raised its stake in shares of TD SYNNEX by 345.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in TD SYNNEX in the third quarter worth $30,000. UMB Bank n.a. raised its position in TD SYNNEX by 99.3% in the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after acquiring an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in TD SYNNEX in the third quarter worth $37,000. Finally, Point72 DIFC Ltd purchased a new position in TD SYNNEX in the third quarter worth $55,000. Hedge funds and other institutional investors 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.