TD SYNNEX (NYSE:SNX) Shares Gap Down to $116.00

TD SYNNEX Co. (NYSE:SNX) shares gapped down prior to trading on Thursday . The stock had previously closed at $116.00, but opened at $110.25. TD SYNNEX shares last traded at $112.08, with a volume of 1,329,702 shares.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SNX shares. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $118.00 target price (up previously from $110.00) on shares of TD SYNNEX in a research report on Wednesday. Barclays lifted their target price on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Cfra lifted their target price on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Barrington Research raised their price target on TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $116.00.

TD SYNNEX Stock Down 2.6 %

The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.77 and a current ratio of 1.22. The firm has a 50 day simple moving average of $103.43 and a two-hundred day simple moving average of $100.94. The stock has a market cap of $10.06 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.07 and a beta of 1.63.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Tuesday, January 9th. The business services provider reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.57. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. The company had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $14.54 billion. During the same quarter in the previous year, the business earned $3.30 EPS. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. Equities research analysts predict that TD SYNNEX Co. will post 11.17 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, April 11th. TD SYNNEX’s dividend payout ratio is presently 23.22%.

Insider Transactions at TD SYNNEX

In other news, major shareholder Apollo Management Holdings Gp, sold 2,250,000 shares of the business’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $101.50, for a total value of $228,375,000.00. Following the sale, the insider now owns 26,153,049 shares of the company’s stock, valued at approximately $2,654,534,473.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.57, for a total value of $1,055,700.00. Following the transaction, the chief executive officer now directly owns 229,363 shares in the company, valued at approximately $24,213,851.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Apollo Management Holdings Gp, sold 2,250,000 shares of TD SYNNEX stock in a transaction on Friday, January 12th. The stock was sold at an average price of $101.50, for a total value of $228,375,000.00. Following the completion of the transaction, the insider now owns 26,153,049 shares in the company, valued at $2,654,534,473.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,289,905 shares of company stock valued at $232,556,362. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Diversified Trust Co grew its holdings in shares of TD SYNNEX by 15.9% during the fourth quarter. Diversified Trust Co now owns 2,989 shares of the business services provider’s stock valued at $322,000 after buying an additional 409 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of TD SYNNEX by 9.0% during the fourth quarter. Raymond James Trust N.A. now owns 3,613 shares of the business services provider’s stock valued at $389,000 after buying an additional 297 shares in the last quarter. Signaturefd LLC grew its holdings in shares of TD SYNNEX by 28.9% during the third quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock valued at $95,000 after buying an additional 214 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of TD SYNNEX by 4.0% during the third quarter. Vanguard Group Inc. now owns 5,008,606 shares of the business services provider’s stock valued at $500,159,000 after buying an additional 193,198 shares in the last quarter. Finally, Ceredex Value Advisors LLC purchased a new position in shares of TD SYNNEX during the third quarter valued at $13,975,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.