TD SYNNEX Corporation (NYSE:SNX) Director Sells $122,141.04 in Stock

Key Points

• Director Ann F. Vezina sold 812 shares of TD SYNNEX stock for a total of $122,141.04, reducing her holdings by 11.78% to 6,079 shares valued at approximately $914,403.18.
• TD SYNNEX stock was up 2.1%, trading at $153.67, following a strong earnings report that showed $14.95 billion in revenue, exceeding analyst estimates.
• The company announced a quarterly dividend of $0.44 per share, yielding approximately 1.1%, with a dividend payout ratio of 20.56%.

TD SYNNEX Corporation (NYSE:SNX - Get Free Report) Director Ann F. Vezina sold 812 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $150.42, for a total value of $122,141.04. Following the completion of the transaction, the director owned 6,079 shares of the company's stock, valued at $914,403.18. The trade was a 11.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

TD SYNNEX Stock Up 2.1%

SNX stock traded up $3.19 during midday trading on Wednesday, hitting $153.67. 638,872 shares of the company's stock were exchanged, compared to its average volume of 805,617. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. TD SYNNEX Corporation has a 12-month low of $92.23 and a 12-month high of $153.70. The firm has a 50 day moving average price of $137.32 and a 200-day moving average price of $128.18. The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.19 and a beta of 1.32.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its 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 during 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 business's revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.73 EPS. On average, analysts anticipate that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given a $0.44 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. TD SYNNEX's dividend payout ratio (DPR) is presently 20.56%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SNX. Morgan Stanley set a $155.00 price objective on TD SYNNEX and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Barclays set a $140.00 target price on TD SYNNEX in a report on Tuesday, June 24th. Loop Capital increased their price objective on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Royal Bank Of Canada reiterated an "outperform" rating and set a $145.00 target price on shares of TD SYNNEX in a research report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. increased their target price on TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Three equities research 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, TD SYNNEX presently has a consensus rating of "Moderate Buy" and an average target price of $149.30.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in TD SYNNEX by 10.1% during the 2nd quarter. Vanguard Group Inc. now owns 8,248,639 shares of the business services provider's stock worth $1,119,340,000 after acquiring an additional 759,022 shares during the period. JPMorgan Chase & Co. raised its stake in shares of TD SYNNEX by 8.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,230,059 shares of the business services provider's stock worth $574,019,000 after buying an additional 330,085 shares in the last quarter. Brave Warrior Advisors LLC raised its stake in shares of TD SYNNEX by 12.2% in the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider's stock worth $486,380,000 after buying an additional 451,557 shares in the last quarter. Ninety One UK Ltd raised its position in shares of TD SYNNEX by 15.0% during the second quarter. Ninety One UK Ltd now owns 2,949,709 shares of the business services provider's stock worth $400,275,000 after purchasing an additional 384,518 shares during the period. Finally, Abrams Bison Investments LLC raised its position 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. Institutional investors and hedge funds own 84.00% of the company's stock.

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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