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

TD SYNNEX Co. (NYSE:SNX) CFO Marshall Witt sold 1,510 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total value of $182,906.30. Following the completion of the transaction, the chief financial officer now owns 48,362 shares of the company’s stock, valued at $5,858,089.06. The trade was a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Marshall Witt also recently made the following trade(s):

• On Wednesday, October 9th, Marshall Witt sold 5,653 shares of TD SYNNEX stock. The shares were sold at an average price of $121.15, for a total value of $684,860.95.

TD SYNNEX Trading Up 0.9 %

Shares of SNX traded up $1.00 during mid-day trading on Thursday, reaching $117.49. 669,256 shares of the company’s stock traded hands, compared to its average volume of 764,346. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The stock’s 50-day moving average is $120.27 and its two-hundred day moving average is $119.05. TD SYNNEX Co. has a 12 month low of $98.70 and a 12 month high of $133.85. The stock has a market cap of $10.00 billion, a P/E ratio of 15.20, a P/E/G ratio of 1.14 and a beta of 1.47.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.06. The company had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.71 EPS. Research analysts forecast that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is currently 20.70%.

Analysts Set New Price Targets

Several equities analysts have weighed in on SNX shares. Barclays raised their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Loop Capital reaffirmed a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a research note on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a report on Friday, September 27th. Finally, Barrington Research restated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.75.

Hedge Funds Weigh In On TD SYNNEX

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNX. Hancock Whitney Corp grew its stake in TD SYNNEX by 57.9% during the 2nd quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock worth $1,954,000 after buying an additional 6,207 shares during the last quarter. ClariVest Asset Management LLC increased its holdings in shares of TD SYNNEX by 45,552.8% during the second quarter. ClariVest Asset Management LLC now owns 16,435 shares of the business services provider’s stock valued at $1,897,000 after acquiring an additional 16,399 shares in the last quarter. Pathstone Holdings LLC raised its position 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 valued at $2,197,000 after purchasing an additional 5,698 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of TD SYNNEX during the second quarter worth $1,634,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of TD SYNNEX by 4,293.7% during the second quarter. Meeder Asset Management Inc. now owns 13,840 shares of the business services provider’s stock worth $1,597,000 after purchasing an additional 13,525 shares during the period. Hedge funds and other 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.