TD SYNNEX Co. (NYSE:SNX) Declares $0.40 Quarterly Dividend

TD SYNNEX Co. (NYSE:SNX) announced a quarterly dividend on Tuesday, June 25th, Zacks reports. Shareholders of record on Friday, July 12th will be given a dividend of 0.40 per share by the business services provider on Friday, July 26th. This represents a $1.60 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, July 12th.

TD SYNNEX has increased its dividend by an average of 51.8% annually over the last three years. TD SYNNEX has a dividend payout ratio of 12.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect TD SYNNEX to earn $12.39 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 12.9%.

TD SYNNEX Stock Down 1.2 %

TD SYNNEX stock traded down $1.41 during mid-day trading on Wednesday, hitting $115.55. The company had a trading volume of 565,195 shares, compared to its average volume of 891,180. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average price is $124.62 and its two-hundred day moving average price is $112.46. TD SYNNEX has a 12 month low of $87.68 and a 12 month high of $133.85. The company has a market capitalization of $10.30 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.13 and a beta of 1.55.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.12. The firm had revenue of $13.98 billion for the quarter, compared to the consensus estimate of $14.37 billion. TD SYNNEX had a return on equity of 12.22% and a net margin of 1.14%. As a group, sell-side analysts anticipate that TD SYNNEX will post 11.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at $15,908,778.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the sale, the chief executive officer now owns 219,363 shares in the company, valued at $25,400,041.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

SNX has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $135.00 price target on shares of TD SYNNEX in a report on Wednesday. Barclays upped their price target on TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Barrington Research reaffirmed an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a report on Wednesday. JPMorgan Chase & Co. lowered their price target on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, UBS Group upped their price objective on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $123.55.

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.