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

TD SYNNEX Co. (NYSE:SNX) was the recipient of a large drop in short interest in January. As of January 31st, there was short interest totalling 1,200,000 shares, a drop of 20.0% from the January 15th total of 1,500,000 shares. Based on an average daily volume of 646,100 shares, the days-to-cover ratio is currently 1.9 days.

Analyst Ratings Changes

Several brokerages have recently commented on SNX. JPMorgan Chase & Co. lifted their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research report on Wednesday, January 15th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and raised their price target for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Finally, Barclays raised their price target on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and an average price target of $144.38.

TD SYNNEX Stock Performance

TD SYNNEX stock traded up $2.65 during mid-day trading on Friday, hitting $144.25. 463,144 shares of the company’s stock traded hands, compared to its average volume of 724,190. The firm has a 50 day moving average price of $130.53 and a 200 day moving average price of $122.33. 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 market cap of $12.21 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. TD SYNNEX has a one year low of $99.95 and a one year high of $144.48.

TD SYNNEX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s payout ratio is currently 22.11%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm’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 transaction of $2,352,400.00. Following the completion of the sale, the director now owns 111,080 shares in the company, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the transaction, the director now owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,289 shares of company stock worth $3,639,500 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of TD SYNNEX

Hedge funds and other institutional investors have recently modified their holdings of the company. Pathstone Holdings LLC raised its stake in shares of TD SYNNEX by 45.2% in the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after buying an additional 5,698 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after buying an additional 813,634 shares in the last quarter. Stratos Investment Management LLC raised its stake in shares of TD SYNNEX by 5.6% in the 3rd quarter. Stratos Investment Management LLC now owns 28,115 shares of the business services provider’s stock worth $3,376,000 after buying an additional 1,486 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of TD SYNNEX by 170.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 81,714 shares of the business services provider’s stock worth $9,812,000 after buying an additional 51,465 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of TD SYNNEX in the 4th quarter worth $2,260,000. Institutional investors own 84.00% of the company’s stock.

About TD SYNNEX

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.