Marshall Witt Sells 1,510 Shares of TD SYNNEX Co. (NYSE:SNX) Stock

TD SYNNEX Co. (NYSE:SNX) CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the transaction, the chief financial officer now owns 49,843 shares of the company’s stock, valued at approximately $6,383,891.44. This represents a 2.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

TD SYNNEX Trading Down 1.9 %

TD SYNNEX stock opened at $129.51 on Friday. The stock has a market cap of $10.93 billion, a PE ratio of 16.27, a P/E/G ratio of 1.06 and a beta of 1.51. The stock has a 50-day moving average price of $137.49 and a 200 day moving average price of $125.29. TD SYNNEX Co. has a 52 week low of $104.40 and a 52 week high of $145.10. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.36%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

Institutional Trading of TD SYNNEX

A number of hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its stake in TD SYNNEX by 11.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,008 shares of the business services provider’s stock worth $822,000 after buying an additional 708 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in TD SYNNEX in the 4th quarter worth about $6,167,000. Forum Financial Management LP boosted its stake in TD SYNNEX by 10.0% in the 4th quarter. Forum Financial Management LP now owns 2,514 shares of the business services provider’s stock worth $295,000 after buying an additional 229 shares during the last quarter. Vise Technologies Inc. acquired a new stake in TD SYNNEX in the 4th quarter worth about $276,000. Finally, CSS LLC IL boosted its stake in TD SYNNEX by 11.7% in the 4th quarter. CSS LLC IL now owns 11,896 shares of the business services provider’s stock worth $1,395,000 after buying an additional 1,250 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNX has been the subject of a number of research analyst reports. Barclays raised their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. raised their price target on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Tuesday. Royal Bank of Canada raised their price target on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Finally, Barrington Research lifted their price objective on TD SYNNEX from $138.00 to $156.00 and gave the stock an “outperform” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.75.

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.