TD SYNNEX Co. (NYSE:SNX) Insider Sells $2,313,200.00 in Stock

TD SYNNEX Co. (NYSE:SNX) insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the sale, the insider now directly owns 134,706 shares in the company, valued at $15,580,095.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Dennis Polk also recently made the following trade(s):

• On Monday, April 8th, Dennis Polk sold 20,000 shares of TD SYNNEX stock. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00.

TD SYNNEX Stock Performance

NYSE SNX opened at $115.40 on Monday. TD SYNNEX Co. has a fifty-two week low of $89.73 and a fifty-two week high of $133.85. The firm has a market capitalization of $10.28 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 1.13 and a beta of 1.55. The stock’s fifty day moving average is $124.72 and its two-hundred day moving average is $112.75. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.26.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Friday, July 12th. TD SYNNEX’s dividend payout ratio is currently 22.41%.

Analysts Set New Price Targets

SNX has been the subject of several research analyst reports. Cfra upped their target price on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research note on Tuesday, March 26th. Barclays increased their price objective on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. cut their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Wednesday, June 26th. Finally, UBS Group boosted their price objective on TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, TD SYNNEX has a consensus rating of “Moderate Buy” and a consensus price target of $126.10.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. increased its holdings in shares of TD SYNNEX by 22.0% during the 3rd quarter. Invesco Ltd. now owns 345,202 shares of the business services provider’s stock worth $34,472,000 after buying an additional 62,296 shares during the last quarter. Northern Trust Corp increased its stake in TD SYNNEX by 7.0% during the third quarter. Northern Trust Corp now owns 321,245 shares of the business services provider’s stock worth $32,080,000 after acquiring an additional 21,123 shares during the last quarter. Natixis Advisors L.P. raised its position in TD SYNNEX by 49.6% in the third quarter. Natixis Advisors L.P. now owns 61,567 shares of the business services provider’s stock valued at $6,148,000 after purchasing an additional 20,400 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of TD SYNNEX by 193.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,879 shares of the business services provider’s stock valued at $587,000 after purchasing an additional 3,873 shares during the last quarter. Finally, Teza Capital Management LLC purchased a new position in shares of TD SYNNEX during the 3rd quarter worth $218,000. 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.