TD SYNNEX Corporation (NYSE:SNX) CFO Sells $189,153.15 in Stock

TD SYNNEX Corporation (NYSE:SNX - Get Free Report) CFO Marshall Witt sold 1,509 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the sale, the chief financial officer now directly owns 49,563 shares of the company's stock, valued at $6,212,722.05. The trade was a 2.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

TD SYNNEX Stock Performance

TD SYNNEX stock traded down $0.22 during mid-day trading on Friday, hitting $124.42. The company had a trading volume of 1,280,939 shares, compared to its average volume of 737,514. The company has a market capitalization of $10.44 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 1.06 and a beta of 1.29. TD SYNNEX Corporation has a 12-month low of $92.23 and a 12-month high of $145.10. The company's fifty day moving average is $118.23 and its 200-day moving average is $123.97. The company has a current ratio of 1.27, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

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 (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). The firm had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a net margin of 1.16% and a return on equity of 11.54%. 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 firm earned $2.99 earnings per share. Equities research analysts predict that TD SYNNEX Corporation will post 11.88 EPS for the current 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 given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, April 11th. TD SYNNEX's dividend payout ratio (DPR) is presently 21.97%.

Hedge Funds Weigh In On TD SYNNEX

Several institutional investors and hedge funds have recently modified their holdings of the business. Bessemer Group Inc. boosted its position 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 purchasing an additional 152 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of TD SYNNEX by 329.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock valued at $25,000 after buying an additional 188 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of TD SYNNEX by 115.1% during the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock worth $36,000 after buying an additional 183 shares during the period. Cullen Frost Bankers Inc. purchased a new position in shares of TD SYNNEX during the 1st quarter valued at approximately $44,000. Finally, Blue Trust Inc. lifted its position in shares of TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock valued at $55,000 after buying an additional 129 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley assumed coverage on TD SYNNEX in a research note on Wednesday, June 11th. They issued an "overweight" rating and a $145.00 price target for the company. Barrington Research reaffirmed an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a research report on Friday, April 11th. Royal Bank Of Canada lowered their target price on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. UBS Group cut their price target on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Finally, 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 report on Friday, March 28th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $138.00.

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.

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