Insider Selling: TD SYNNEX Co. (NYSE:SNX) Director Sells 839 Shares of Stock

TD SYNNEX Co. (NYSE:SNX) Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the sale, the director now owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This represents a 14.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

TD SYNNEX Trading Up 2.7 %

Shares of TD SYNNEX stock opened at $140.85 on Wednesday. TD SYNNEX Co. has a 12-month low of $98.70 and a 12-month high of $142.13. The company has a market capitalization of $11.99 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 1.02 and a beta of 1.46. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $122.27 and its two-hundred day moving average price is $119.05.

TD SYNNEX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be paid a $0.44 dividend. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, January 24th. This represents a $1.76 annualized dividend and a dividend yield of 1.25%. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.10%.

Wall Street Analysts Forecast Growth

SNX has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Wednesday, January 15th. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Barclays upped 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. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $144.38.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SNX. CIBC Asset Management Inc boosted its stake in shares of TD SYNNEX by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after purchasing an additional 86 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in TD SYNNEX by 3.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock valued at $315,000 after buying an additional 90 shares in the last quarter. AlphaMark Advisors LLC grew its stake in shares of TD SYNNEX by 1.3% during the third quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock worth $929,000 after buying an additional 100 shares during the last quarter. Atria Investments Inc increased its holdings in shares of TD SYNNEX by 4.1% during the third quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock worth $344,000 after buying an additional 112 shares in the last quarter. Finally, Meixler Investment Management Ltd. boosted its holdings 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 in the last quarter. 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.