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

TD SYNNEX Co. (NYSE:SNX) declared a quarterly dividend on Thursday, March 27th, RTT News reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.40%.

TD SYNNEX has raised its dividend payment 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. Equities 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 Performance

Shares of SNX stock opened at $125.43 on Thursday. TD SYNNEX has a 12 month low of $106.78 and a 12 month high of $145.10. The stock has a market cap of $10.58 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The company’s fifty day moving average price is $136.91 and its 200-day moving average price is $125.70. 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 (NYSE:SNX) last released its earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). The company 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%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.99 earnings per share. On average, equities analysts expect that TD SYNNEX will post 11.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Cfra raised shares of 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 research report on Friday, January 10th. Barrington Research raised their target price on TD SYNNEX from $138.00 to $156.00 and gave the stock an “outperform” rating in a report on Thursday, March 20th. Barclays boosted 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. Royal Bank of Canada raised their price objective on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Finally, StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $149.75.

Insider Activity

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were 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 owns 111,080 shares in the company, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction dated 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 directly owns 4,856 shares of the company’s stock, valued at $660,804.48. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 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 insiders.

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.