TD SYNNEX Co. (NYSE:SNX – Get Free Report) 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.
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.
Read Our Latest Research Report on TD SYNNEX
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.
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