TD SYNNEX Co. (SNX) To Go Ex-Dividend on January 24th

TD SYNNEX Co. (NYSE:SNX) declared a quarterly dividend on Friday, January 10th,Wall Street Journal reports. Stockholders of record on Friday, January 24th will be paid a dividend of 0.44 per share by the business services provider on Friday, January 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40.

TD SYNNEX has increased its dividend payment by an average of 26.0% annually over the last three years. TD SYNNEX has a dividend payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect TD SYNNEX to earn $13.51 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 13.0%.

TD SYNNEX Stock Up 2.7 %

Shares of NYSE SNX opened at $140.85 on Wednesday. The firm has a market cap of $11.99 billion, a PE ratio of 17.69, a P/E/G ratio of 1.02 and a beta of 1.46. The company’s fifty day simple moving average is $122.27 and its 200 day simple moving average is $119.05. TD SYNNEX has a 12-month low of $98.70 and a 12-month high of $142.13. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

Insider Activity

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the transaction, the director now directly owns 4,856 shares in the company, valued at $660,804.48. This represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of the sale, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,715 shares of company stock valued at $3,433,500 in the last three months. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SNX. JPMorgan Chase & Co. increased their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. 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. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research report on Wednesday, January 15th. Finally, Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and upped their target price for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, TD SYNNEX presently has an average rating of “Moderate Buy” and a consensus target price of $144.38.

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.