TD SYNNEX Co. (NYSE:SNX) Short Interest Down 29.1% in December

TD SYNNEX Co. (NYSE:SNX) saw a large drop in short interest in December. As of December 31st, there was short interest totalling 1,440,000 shares, a drop of 29.1% from the December 15th total of 2,030,000 shares. Based on an average trading volume of 610,100 shares, the days-to-cover ratio is currently 2.4 days.

Insider Transactions at TD SYNNEX

In other news, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the transaction, the insider now owns 23,339 shares in the company, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the sale, the chief financial officer now owns 48,362 shares in the company, valued at $5,858,089.06. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,876 shares of company stock valued at $3,319,329 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of TD SYNNEX

Hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc increased its holdings in shares of TD SYNNEX by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock worth $313,000 after purchasing an additional 86 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in TD SYNNEX by 3.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock worth $315,000 after acquiring an additional 90 shares during the period. AlphaMark Advisors LLC increased its stake in TD SYNNEX by 1.3% during the 3rd quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock worth $929,000 after acquiring 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 acquiring an additional 112 shares in the last quarter. Finally, Meixler Investment Management Ltd. lifted its position in shares of TD SYNNEX by 2.1% during the 3rd quarter. Meixler Investment Management Ltd. now owns 5,814 shares of the business services provider’s stock valued at $698,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SNX. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their target price for the company from $122.00 to $147.00 in a research note on Friday, January 10th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research note on Wednesday. Barclays increased their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, 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. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.38.

TD SYNNEX Stock Performance

SNX stock traded down $0.32 during trading hours on Friday, hitting $136.86. 245,242 shares of the stock were exchanged, compared to its average volume of 761,693. TD SYNNEX has a 12 month low of $98.70 and a 12 month high of $138.31. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $11.64 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.24 and a beta of 1.46. The company has a 50-day simple moving average of $121.32 and a two-hundred day simple moving average of $118.42.

TD SYNNEX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.29%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, January 24th. TD SYNNEX’s dividend payout ratio (DPR) is currently 20.10%.

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.