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

TD SYNNEX Co. (NYSE:SNX) CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $23,681,372. This represents a 3.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

TD SYNNEX Stock Performance

TD SYNNEX stock traded down $3.52 during mid-day trading on Monday, hitting $139.00. 787,985 shares of the company’s stock traded hands, compared to its average volume of 730,175. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The firm has a 50 day simple moving average of $126.35 and a two-hundred day simple moving average of $120.64. TD SYNNEX Co. has a fifty-two week low of $98.70 and a fifty-two week high of $144.18. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 1.06 and a beta of 1.48.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were issued a dividend of $0.44 per share. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 annualized dividend and a dividend yield of 1.27%. TD SYNNEX’s payout ratio is presently 22.11%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. FMR LLC grew its position in shares of TD SYNNEX by 18.4% in the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after purchasing an additional 1,154,651 shares during the last quarter. Ninety One UK Ltd grew its holdings in TD SYNNEX by 75.4% in the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after buying an additional 1,016,251 shares in the last quarter. JPMorgan Chase & Co. increased its position in TD SYNNEX by 37.0% during 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 during the period. Thrivent Financial for Lutherans lifted its holdings in shares of TD SYNNEX by 560.0% during the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock worth $44,639,000 after buying an additional 315,424 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of TD SYNNEX by 325.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 347,451 shares of the business services provider’s stock valued at $40,488,000 after acquiring an additional 265,737 shares during the period. 84.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Loop Capital reiterated a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Barclays raised their price objective on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. JPMorgan Chase & Co. upped their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.38.

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.