TD SYNNEX Co. (SNX) to Issue Quarterly Dividend of $0.40 on October 25th

TD SYNNEX Co. (NYSE:SNX) declared a quarterly dividend on Thursday, September 26th, Zacks reports. Stockholders of record on Friday, October 11th will be given a dividend of 0.40 per share by the business services provider on Friday, October 25th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Friday, October 11th.

TD SYNNEX has increased its dividend by an average of 51.8% per year over the last three years. TD SYNNEX has a dividend payout ratio of 12.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect TD SYNNEX to earn $12.14 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 13.2%.

TD SYNNEX Trading Up 0.8 %

Shares of NYSE:SNX opened at $119.67 on Friday. TD SYNNEX has a 1 year low of $89.73 and a 1 year high of $133.85. The firm has a fifty day moving average price of $116.22 and a 200 day moving average price of $117.86. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $10.23 billion, a PE ratio of 16.76, a P/E/G ratio of 1.18 and a beta of 1.49.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The company had revenue of $14.68 billion for the quarter, compared to the consensus estimate of $14.11 billion. During the same quarter last year, the company posted $2.71 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts expect that TD SYNNEX will post 11.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other TD SYNNEX news, COO Patrick Zammit sold 3,513 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $113.28, for a total value of $397,952.64. Following the sale, the chief operating officer now directly owns 140,205 shares in the company, valued at $15,882,422.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the sale, the chief financial officer now directly owns 45,115 shares in the company, valued at approximately $4,968,966.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Patrick Zammit sold 3,513 shares of TD SYNNEX stock in a transaction on Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the transaction, the chief operating officer now owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The disclosure for this sale can be found here. Insiders sold a total of 15,188 shares of company stock worth $1,685,455 over the last quarter. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Bank of America decreased their target price on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Barrington Research restated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. UBS Group upped their price objective on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.57.

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.