TD SYNNEX Co. (NYSE:SNX) Increases Dividend to $0.44 Per Share

TD SYNNEX Co. (NYSE:SNX) declared a quarterly dividend on Friday, January 10th,Wall Street Journal reports. Shareholders of record on Friday, January 24th will be paid a dividend of 0.44 per share by the business services provider on Friday, January 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40.

TD SYNNEX has raised its dividend payment by an average of 26.0% annually over the last three years. TD SYNNEX has a payout ratio of 12.0% meaning its dividend is sufficiently covered by earnings. Analysts expect TD SYNNEX to earn $13.51 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 13.0%.

TD SYNNEX Stock Performance

SNX stock opened at $140.85 on Wednesday. The firm has a market cap of $11.99 billion, a P/E ratio of 17.69, a P/E/G ratio of 1.02 and a beta of 1.46. The stock’s 50 day simple moving average is $122.27 and its 200 day simple moving average is $119.05. 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 has a 12-month low of $98.70 and a 12-month high of $142.13.

Insider Buying and Selling

In other TD SYNNEX news, 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 transaction, the director now directly owns 4,856 shares of the company’s stock, valued at $660,804.48. This represents a 14.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Simon Leung sold 6,249 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the transaction, the insider now directly owns 23,339 shares in the company, valued at approximately $2,874,664.63. This represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,715 shares of company stock valued at $3,433,500. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

SNX has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a report on Wednesday, January 15th. 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 upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Finally, Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and upped their price objective for the company from $122.00 to $147.00 in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and a consensus price target of $144.38.

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.