TD SYNNEX (NYSE:SNX) Director Richard Hume Sells 5,000 Shares

Key Points

• Director Richard Hume sold 5,000 shares on May 5 at an average price of $233.85 for proceeds of $1,169,250 under a Rule 10b5-1 plan, leaving him with 33,537 shares (a 12.97% reduction).
• TD SYNNEX posted a strong Q1, reporting EPS of $4.73 versus $3.24 expected and revenue of $17.16 billion versus $15.59 billion, with revenue up 18.1% year-over-year.
• The company paid a $0.48 quarterly dividend (annualized $1.92, yield ~0.8%, payout ratio ~16%), and analysts carry a "Moderate Buy" consensus with an average target price of $197.70.

TD SYNNEX Corporation (NYSE:SNX - Get Free Report) Director Richard Hume sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $233.85, for a total transaction of $1,169,250.00. Following the completion of the transaction, the director owned 33,537 shares of the company's stock, valued at approximately $7,842,627.45. This trade represents a 12.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TD SYNNEX Trading Down 0.2%

Shares of SNX traded down $0.49 during trading hours on Wednesday, hitting $234.23. 748,317 shares of the stock were exchanged, compared to its average volume of 804,284. TD SYNNEX Corporation has a fifty-two week low of $114.04 and a fifty-two week high of $236.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. The business has a 50-day moving average of $181.64 and a 200-day moving average of $163.98. The firm has a market capitalization of $18.83 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 0.99 and a beta of 1.40.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $1.49. The business had revenue of $17.16 billion for the quarter, compared to analyst estimates of $15.59 billion. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. TD SYNNEX's revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.80 earnings per share. On average, research analysts expect that TD SYNNEX Corporation will post 15.69 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were given a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.92 annualized dividend and a yield of 0.8%. TD SYNNEX's payout ratio is currently 15.96%.

Analyst Ratings Changes

Several brokerages have commented on SNX. Morgan Stanley lifted their price objective on shares of TD SYNNEX from $172.00 to $174.00 and gave the stock an "overweight" rating in a research report on Friday, March 20th. Barrington Research reaffirmed an "outperform" rating and issued a $182.00 price objective on shares of TD SYNNEX in a research report on Friday, March 27th. JPMorgan Chase & Co. boosted their price target on shares of TD SYNNEX from $185.00 to $220.00 and gave the company a "neutral" rating in a research report on Thursday, April 16th. The Goldman Sachs Group boosted their price target on shares of TD SYNNEX from $180.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. Finally, Barclays boosted their price target on shares of TD SYNNEX from $163.00 to $166.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $197.70.

Institutional Trading of TD SYNNEX

Several hedge funds and other institutional investors have recently modified their holdings of the business. Copeland Capital Management LLC bought a new stake in shares of TD SYNNEX in the first quarter valued at approximately $17,860,000. Assetmark Inc. grew its stake in TD SYNNEX by 11.4% during the first quarter. Assetmark Inc. now owns 1,092 shares of the business services provider's stock valued at $184,000 after acquiring an additional 112 shares in the last quarter. Bessemer Group Inc. grew its stake in TD SYNNEX by 60.9% during the first quarter. Bessemer Group Inc. now owns 441 shares of the business services provider's stock valued at $74,000 after acquiring an additional 167 shares in the last quarter. Harmony Asset Management LLC purchased a new position in TD SYNNEX during the first quarter valued at approximately $1,302,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in TD SYNNEX during the first quarter valued at approximately $253,000. Institutional investors own 84.00% of the company's stock.

TD SYNNEX Company Profile

TD SYNNEX NYSE: SNX is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company's core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.

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