TD SYNNEX Co. (SNX) To Go Ex-Dividend on October 11th

TD SYNNEX Co. (NYSE:SNX) announced a quarterly dividend on Thursday, September 26th, Zacks reports. Stockholders of record on Friday, October 11th will be given a dividend of 0.40 per share by the business services provider on Friday, October 25th. This represents a $1.60 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, October 11th.

TD SYNNEX has increased its dividend payment by an average of 51.8% annually over the last three years. TD SYNNEX has a dividend payout ratio of 12.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect TD SYNNEX to earn $12.04 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 13.3%.

TD SYNNEX Price Performance

Shares of SNX stock opened at $120.36 on Wednesday. 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 fifty day simple moving average is $116.28 and its 200 day simple moving average is $118.75. TD SYNNEX has a one year low of $89.73 and a one year high of $133.85. The firm has a market cap of $10.29 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 1.18 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. The business had revenue of $14.68 billion during 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 revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $2.71 EPS. On average, analysts expect that TD SYNNEX will post 11.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNX. Bank of America reduced their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. JPMorgan Chase & Co. lowered their price objective on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Friday, September 27th. UBS Group upped their price objective on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Barclays raised their target price on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.75.

Insider Activity at TD SYNNEX

In other news, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the transaction, the chief operating officer now directly owns 140,205 shares in the company, valued at $15,882,422.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Marshall Witt sold 11,441 shares of TD SYNNEX stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the sale, the chief financial officer now owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Patrick Zammit sold 3,513 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the completion of the transaction, the chief operating officer now owns 140,205 shares in the company, valued at $15,882,422.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,877 shares of company stock valued at $3,519,970. Insiders own 1.90% 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.