TD SYNNEX (NYSE:SNX) Director Sells $1,147,700.00 in Stock

Key Points

• Director Richard Hume sold 5,000 TD SYNNEX shares for about $1.15 million on May 18, reducing his ownership by 14.91%. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• TD SYNNEX recently reported better-than-expected quarterly results, with EPS of $4.73 versus analyst expectations of $3.24 and revenue of $17.16 billion versus $15.59 billion. Revenue rose 18.1% year over year.
• The company also paid a quarterly dividend of $0.48 per share, or $1.92 annually, for a yield of about 0.8%. Meanwhile, Wall Street sentiment remains positive, with a consensus rating of Moderate Buy and an average target price of $197.70.

TD SYNNEX Corporation (NYSE:SNX - Get Free Report) Director Richard Hume sold 5,000 shares of the business's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $229.54, for a total transaction of $1,147,700.00. Following the transaction, the director owned 28,537 shares in the company, valued at $6,550,382.98. The trade was a 14.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TD SYNNEX Price Performance

SNX traded down $2.06 on Monday, reaching $228.23. 555,063 shares of the company's stock were exchanged, compared to its average volume of 675,647. The stock has a market cap of $18.35 billion, a PE ratio of 18.97, a P/E/G ratio of 1.01 and a beta of 1.40. TD SYNNEX Corporation has a twelve month low of $118.35 and a twelve month high of $242.49. The stock's fifty day moving average price is $195.23 and its 200-day moving average price is $168.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, topping analysts' consensus estimates of $3.24 by $1.49. The firm 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 quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.80 earnings per share. Sell-side analysts expect that TD SYNNEX Corporation will post 15.69 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were given a dividend of $0.48 per share. The ex-dividend date was Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. TD SYNNEX's payout ratio is presently 15.96%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SNX. Wall Street Zen upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. The Goldman Sachs Group lifted their target price on shares of TD SYNNEX from $180.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Morgan Stanley lifted their target price on shares of TD SYNNEX from $172.00 to $174.00 and gave the stock an "overweight" rating in a research note on Friday, March 20th. Barrington Research reaffirmed an "outperform" rating and set a $182.00 target price on shares of TD SYNNEX in a research note on Friday, March 27th. Finally, Zacks Research raised shares of TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, TD SYNNEX presently has a consensus rating of "Moderate Buy" and a consensus target price of $197.70.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of TD SYNNEX by 0.4% in the 3rd quarter. State Street Corp now owns 2,372,733 shares of the business services provider's stock valued at $388,535,000 after acquiring an additional 9,024 shares during the period. Ninety One UK Ltd raised its stake in shares of TD SYNNEX by 13.1% in the 4th quarter. Ninety One UK Ltd now owns 2,229,091 shares of the business services provider's stock valued at $334,876,000 after acquiring an additional 258,630 shares during the period. LSV Asset Management raised its stake in shares of TD SYNNEX by 16.1% in the 4th quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider's stock valued at $313,471,000 after acquiring an additional 288,625 shares during the period. Geode Capital Management LLC raised its stake in shares of TD SYNNEX by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider's stock valued at $230,315,000 after acquiring an additional 99,090 shares during the period. Finally, Metropolis Capital Ltd raised its stake in shares of TD SYNNEX by 9.5% in the 1st quarter. Metropolis Capital Ltd now owns 1,281,307 shares of the business services provider's stock valued at $216,169,000 after acquiring an additional 111,222 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

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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