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

TD SYNNEX Co. (NYSE:SNX) CEO Patrick Zammit sold 6,823 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

TD SYNNEX Trading Down 2.5 %

Shares of SNX opened at $139.00 on Tuesday. TD SYNNEX Co. has a 52-week low of $98.70 and a 52-week high of $144.18. 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 firm’s fifty day moving average is $126.71 and its two-hundred day moving average is $120.79. The stock has a market cap of $11.77 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.06 and a beta of 1.48.

TD SYNNEX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a 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 payout ratio is 22.11%.

Wall Street Analysts Forecast Growth

Several research firms have commented on SNX. Loop Capital reissued a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and increased their price objective for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Barclays raised their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Wednesday, January 15th. Finally, StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.38.

Institutional Investors Weigh In On TD SYNNEX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc raised its holdings in TD SYNNEX by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after buying an additional 86 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in TD SYNNEX by 3.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock valued at $315,000 after buying an additional 90 shares during the period. AlphaMark Advisors LLC raised its holdings in TD SYNNEX by 1.3% in the 3rd quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock valued at $929,000 after buying an additional 100 shares during the period. Atria Investments Inc raised its holdings in TD SYNNEX by 4.1% in the 3rd quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock valued at $344,000 after buying an additional 112 shares during the period. Finally, Highland Capital Management LLC raised its holdings in TD SYNNEX by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider’s stock valued at $223,000 after buying an additional 116 shares during the period. Institutional investors and hedge funds 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.