TD SYNNEX Co. (NYSE:SNX) Insider Sells $2,362,000.00 in Stock

TD SYNNEX Co. (NYSE:SNX - Get Free Report) insider Dennis Polk sold 20,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the sale, the insider now owns 134,706 shares of the company's stock, valued at approximately $15,908,778.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Dennis Polk also recently made the following trade(s):

• On Tuesday, January 16th, Dennis Polk sold 6,701 shares of TD SYNNEX stock. The stock was sold at an average price of $103.84, for a total value of $695,831.84.

TD SYNNEX Price Performance

Shares of SNX stock traded down $0.60 during trading hours on Tuesday, hitting $116.32. The company's stock had a trading volume of 749,302 shares, compared to its average volume of 978,422. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. The stock has a market cap of $10.20 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 1.12 and a beta of 1.64. The business has a fifty day moving average of $105.44 and a 200-day moving average of $101.87. TD SYNNEX Co. has a twelve month low of $86.30 and a twelve month high of $119.87.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings results on Tuesday, January 9th. The business services provider reported $3.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.56 by $0.57. The company had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $14.54 billion. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. TD SYNNEX's revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.30 earnings per share. As a group, equities research analysts anticipate that TD SYNNEX Co. will post 11.17 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Thursday, April 11th. TD SYNNEX's dividend payout ratio is presently 23.22%.

Hedge Funds Weigh In On TD SYNNEX

A number of hedge funds have recently made changes to their positions in SNX. Alaska Permanent Fund Corp increased its position in shares of TD SYNNEX by 1.3% in the 1st quarter. Alaska Permanent Fund Corp now owns 25,325 shares of the business services provider's stock worth $2,864,000 after purchasing an additional 315 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of TD SYNNEX during the 1st quarter valued at about $32,000. First Hawaiian Bank bought a new stake in shares of TD SYNNEX during the 1st quarter valued at about $379,000. Los Angeles Capital Management LLC bought a new stake in shares of TD SYNNEX during the 1st quarter valued at about $335,000. Finally, Kapitalo Investimentos Ltda grew its position in shares of TD SYNNEX by 75.6% during the 4th quarter. Kapitalo Investimentos Ltda now owns 1,582 shares of the business services provider's stock valued at $170,000 after buying an additional 681 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SNX shares. Cfra boosted their price objective on TD SYNNEX from $110.00 to $113.00 and gave the company a "hold" rating in a research report on Tuesday, March 26th. JPMorgan Chase & Co. upped their target price on TD SYNNEX from $113.00 to $126.00 and gave the stock a "neutral" rating in a report on Monday, April 1st. Bank of America increased their price objective on TD SYNNEX from $120.00 to $140.00 and gave the company a "buy" rating in a report on Tuesday, April 2nd. Barclays raised their target price on TD SYNNEX from $111.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 27th. Finally, Barrington Research raised their target price on TD SYNNEX from $122.00 to $138.00 and gave the company an "outperform" rating in a research report on Thursday, March 28th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $118.18.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.