TD SYNNEX Co. (NYSE:SNX) Sees Large Increase in Short Interest

TD SYNNEX Co. (NYSE:SNX - Get Free Report) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 4,040,000 shares, an increase of 25.5% from the March 31st total of 3,220,000 shares. Based on an average daily trading volume, of 949,500 shares, the short-interest ratio is presently 4.3 days. Approximately 4.9% of the shares of the stock are short sold.

Analyst Ratings Changes

SNX has been the topic of several recent analyst reports. Barclays lowered their price target on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. Cfra decreased their target price on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Barrington Research reissued an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a report on Friday, April 11th. UBS Group decreased their price target on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Finally, StockNews.com downgraded TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, TD SYNNEX has a consensus rating of "Moderate Buy" and a consensus price target of $137.22.

Insider Transactions at TD SYNNEX

In related news, insider Miriam Anne Murphy sold 3,000 shares of TD SYNNEX stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the transaction, the insider now directly owns 14,883 shares of the company's stock, valued at $1,637,130. The trade was a 16.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $135.88, for a total value of $2,717,600.00. Following the sale, the director now owns 65,480 shares of the company's stock, valued at approximately $8,897,422.40. The trade was a 23.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,510 shares of company stock valued at $3,241,001. Corporate insiders own 1.00% of the company's stock.

Institutional Trading of TD SYNNEX

A number of large investors have recently made changes to their positions in the stock. Bartlett & CO. Wealth Management LLC lifted its position in shares of TD SYNNEX by 345.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock valued at $27,000 after buying an additional 176 shares in the last quarter. Bessemer Group Inc. increased its stake in TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after acquiring an additional 152 shares during the last quarter. Versant Capital Management Inc raised its position in TD SYNNEX by 115.1% during the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock valued at $36,000 after purchasing an additional 183 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of TD SYNNEX in the 1st quarter valued at approximately $44,000. Finally, UMB Bank n.a. boosted its holdings in shares of TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock worth $50,000 after purchasing an additional 140 shares during the period. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Price Performance

TD SYNNEX stock traded up $3.13 during mid-day trading on Thursday, hitting $118.45. 730,568 shares of the company traded hands, compared to its average volume of 746,161. TD SYNNEX has a one year low of $92.23 and a one year high of $145.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33. The stock has a fifty day moving average price of $114.07 and a 200-day moving average price of $123.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). The firm had revenue of $14.53 billion for the quarter, compared to analysts' expectations of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.99 earnings per share. On average, equities analysts predict that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.49%. TD SYNNEX's dividend payout ratio is 21.97%.

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.