TD SYNNEX Co. (NYSE:SNX) Insider David R. Vetter Sells 20,000 Shares

TD SYNNEX Co. (NYSE:SNX) insider David R. Vetter sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $123.14, for a total transaction of $2,462,800.00. Following the sale, the insider now owns 66,381 shares of the company’s stock, valued at approximately $8,174,156.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

TD SYNNEX Stock Performance

SNX stock traded down $1.47 during midday trading on Monday, hitting $120.75. 582,193 shares of the company traded hands, compared to its average volume of 804,160. TD SYNNEX Co. has a twelve month low of $89.73 and a twelve month high of $133.85. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 1.23 and a beta of 1.48. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The business has a 50 day simple moving average of $117.54 and a 200-day simple moving average of $119.16.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The company had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. During the same period in the previous year, the company earned $2.71 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts predict that TD SYNNEX Co. will post 11.06 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a $0.40 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.33%. TD SYNNEX’s dividend payout ratio is 20.70%.

Analysts Set New Price Targets

SNX has been the topic of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a report on Friday, September 27th. Bank of America dropped their target price on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Barrington Research reiterated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Loop Capital restated a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. Finally, StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and an average price target of $134.75.

Institutional Trading of TD SYNNEX

Several hedge funds and other institutional investors have recently bought and sold shares of SNX. Vanguard Group Inc. grew its position in TD SYNNEX by 23.4% in the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock worth $751,143,000 after purchasing an additional 1,261,474 shares during the last quarter. Pacer Advisors Inc. grew its position in TD SYNNEX by 58.9% in the 2nd quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock worth $313,469,000 after purchasing an additional 1,006,569 shares during the last quarter. Ninety One UK Ltd grew its position in TD SYNNEX by 131.0% in the 2nd quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock worth $158,298,000 after purchasing an additional 777,924 shares during the last quarter. Lind Value II ApS acquired a new stake in TD SYNNEX in the 1st quarter worth $77,858,000. Finally, Lord Abbett & CO. LLC acquired a new stake in TD SYNNEX in the 1st quarter worth $57,981,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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.