TD SYNNEX Co. (NYSE:SNX) Short Interest Up 25.5% in April

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

TD SYNNEX Trading Up 2.5 %

Shares of SNX traded up $2.75 during mid-day trading on Friday, reaching $114.59. The company's stock had a trading volume of 483,036 shares, compared to its average volume of 746,426. TD SYNNEX has a 52 week low of $92.23 and a 52 week high of $145.10. The stock has a market cap of $9.62 billion, a PE ratio of 14.40, a P/E/G ratio of 1.06 and a beta of 1.33. The company's fifty day moving average price is $115.81 and its two-hundred day moving average price is $123.27. 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 (NYSE:SNX - Get Free Report) last released its quarterly earnings data 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 company had revenue of $14.53 billion for the quarter, compared to analysts' expectations of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $2.99 EPS. On average, analysts predict that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.54%. TD SYNNEX's payout ratio is 21.97%.

Insider Buying and Selling at TD SYNNEX

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bartlett & CO. Wealth Management LLC raised its holdings in TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock worth $27,000 after acquiring an additional 176 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after purchasing an additional 152 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of 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 buying an additional 183 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in TD SYNNEX in the 1st quarter worth about $44,000. Finally, UMB Bank n.a. lifted its stake in TD SYNNEX by 48.4% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock valued at $50,000 after acquiring an additional 140 shares during the period. Institutional investors own 84.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. UBS Group reduced their price target on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Barclays decreased their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a research report on Friday, March 28th. JPMorgan Chase & Co. cut their price target on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Barrington Research restated an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a report on Friday, April 11th. Finally, Royal Bank of Canada cut their target price on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $137.22.

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.

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