Richard T. Hume Sells 63,310 Shares of TD SYNNEX Corporation (NYSE:SNX) Stock

TD SYNNEX Corporation (NYSE:SNX - Get Free Report) Director Richard T. Hume sold 63,310 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the completion of the transaction, the director owned 67,515 shares of the company's stock, valued at approximately $9,197,568.45. This trade represents a 48.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

TD SYNNEX Stock Performance

Shares of SNX traded up $0.93 during midday trading on Thursday, reaching $140.21. 680,142 shares of the stock were exchanged, compared to its average volume of 744,251. TD SYNNEX Corporation has a twelve month low of $92.23 and a twelve month high of $145.10. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75. The company has a market capitalization of $11.77 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.12 and a beta of 1.30. The business's 50-day moving average price is $123.15 and its 200 day moving average price is $124.66.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, topping the consensus estimate of $2.71 by $0.28. The company had revenue of $14.95 billion for the quarter, compared to analyst estimates of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The firm's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.73 earnings per share. On average, sell-side analysts expect that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.26%. TD SYNNEX's dividend payout ratio is presently 20.56%.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in TD SYNNEX by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider's stock valued at $901,323,000 after acquiring an additional 29,659 shares during the period. FMR LLC grew its stake in shares of TD SYNNEX by 3.2% in the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider's stock valued at $898,738,000 after purchasing an additional 237,587 shares during the last quarter. Brave Warrior Advisors LLC increased its holdings in shares of TD SYNNEX by 12.2% in the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider's stock valued at $486,380,000 after purchasing an additional 451,557 shares during the period. JPMorgan Chase & Co. raised its stake in shares of TD SYNNEX by 16.9% during the first quarter. JPMorgan Chase & Co. now owns 3,899,974 shares of the business services provider's stock worth $405,441,000 after purchasing an additional 564,473 shares during the last quarter. Finally, Abrams Bison Investments LLC lifted its holdings in shares of TD SYNNEX by 19.4% during the first quarter. Abrams Bison Investments LLC now owns 2,683,000 shares of the business services provider's stock worth $278,925,000 after purchasing an additional 435,000 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SNX. Morgan Stanley set a $155.00 target price on shares of TD SYNNEX and gave the company an "overweight" rating in a report on Wednesday, June 25th. Barrington Research reaffirmed an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a research report on Monday, June 23rd. UBS Group dropped their target price on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Cfra decreased their price target on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Loop Capital upped their price objective on TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $142.56.

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.