TD SYNNEX Co. (NYSE:SNX) Plans $0.44 Quarterly Dividend

TD SYNNEX Co. (NYSE:SNX) declared a quarterly dividend on Thursday, March 27th, RTT News reports. Stockholders of record on Friday, April 11th will be given a dividend of 0.44 per share by the business services provider on Friday, April 25th. This represents a $1.76 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, April 11th.

TD SYNNEX has increased its dividend by an average of 22.1% per year over the last three years. TD SYNNEX has a payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect TD SYNNEX to earn $13.62 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 12.9%.

TD SYNNEX Stock Down 14.0 %

NYSE:SNX opened at $107.85 on Friday. The firm has a 50-day simple moving average of $136.32 and a two-hundred day simple moving average of $125.58. The firm has a market cap of $9.10 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.06 and a beta of 1.51. TD SYNNEX has a fifty-two week low of $98.00 and a fifty-two week high of $145.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24.

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

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. This represents a 15.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the sale, the chief executive officer now owns 165,604 shares in the company, valued at approximately $23,681,372. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock valued at $6,353,261 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SNX shares. Royal Bank of Canada upped their price target on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Barclays boosted their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday. Barrington Research reissued an “outperform” rating and set a $156.00 price target on shares of TD SYNNEX in a report on Friday. Finally, Cfra raised 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. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $146.63.

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.