TD SYNNEX Co. (NYSE:SNX) CEO Richard T. Hume Sells 15,000 Shares of Stock

Posted by Defense World Staff on Jul 6th, 2023

TD SYNNEX Co. (NYSE:SNX – Free Report) CEO Richard T. Hume sold 15,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $92.61, for a total value of $1,389,150.00. Following the completion of the sale, the chief executive officer now owns 178,150 shares of the company’s stock, valued at $16,498,471.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $94.01 on Thursday. The firm has a market capitalization of $8.87 billion, a P/E ratio of 13.39, a PEG ratio of 1.05 and a beta of 1.61. TD SYNNEX Co. has a 1 year low of $78.86 and a 1 year high of $111.57. The business has a 50-day moving average of $91.63 and a 200-day moving average of $95.51. The company has a current ratio of 1.30, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX – Free Report) last released its quarterly earnings data on Tuesday, June 27th. The business services provider reported $2.43 earnings per share for the quarter, missing the consensus estimate of $2.55 by ($0.12). TD SYNNEX had a net margin of 1.10% and a return on equity of 13.25%. The business had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $14.42 billion. During the same quarter last year, the firm earned $2.66 EPS. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. On average, equities analysts anticipate that TD SYNNEX Co. will post 10.5 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Thursday, July 13th. TD SYNNEX’s payout ratio is 19.94%.

Institutional Investors Weigh In On TD SYNNEX

Several institutional investors have recently bought and sold shares of SNX. American Century Companies Inc. lifted its stake in TD SYNNEX by 31.5% in the 1st quarter. American Century Companies Inc. now owns 20,197 shares of the business services provider’s stock valued at $2,085,000 after acquiring an additional 4,841 shares in the last quarter. US Bancorp DE raised its stake in shares of TD SYNNEX by 11.6% during the 1st quarter. US Bancorp DE now owns 7,213 shares of the business services provider’s stock worth $745,000 after purchasing an additional 747 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of TD SYNNEX by 7.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,614 shares of the business services provider’s stock worth $992,000 after purchasing an additional 677 shares in the last quarter. Bank of Montreal Can raised its stake in shares of TD SYNNEX by 202.3% during the 1st quarter. Bank of Montreal Can now owns 53,183 shares of the business services provider’s stock worth $5,569,000 after purchasing an additional 35,593 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of TD SYNNEX during the 1st quarter worth approximately $1,065,000. Institutional investors own 84.54% of the company’s stock.

Analyst Ratings Changes

SNX has been the subject of a number of research reports. Barrington Research lowered their target price on TD SYNNEX from $120.00 to $115.00 in a research note on Wednesday, June 28th. Loop Capital lowered their price objective on TD SYNNEX from $150.00 to $120.00 in a research report on Wednesday. Raymond James lowered their price objective on TD SYNNEX from $140.00 to $130.00 and set a “strong-buy” rating for the company in a research report on Wednesday, March 29th. Bank of America lowered their price objective on TD SYNNEX from $120.00 to $115.00 in a research report on Wednesday, June 28th. Finally, The Goldman Sachs Group started coverage on TD SYNNEX in a research report on Monday, May 1st. They issued a “buy” rating and a $101.00 price objective for the company. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and a consensus target price of $108.36.

TD SYNNEX Company Profile

(Free Report)

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.