TD SYNNEX Co. (NYSE:SNX) Announces Quarterly Dividend of $0.44

TD SYNNEX Co. (NYSE:SNX) announced a quarterly dividend on Friday, January 10th,Wall Street Journal reports. Shareholders 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 yield of 1.25%. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40.

TD SYNNEX has raised its dividend payment by an average of 26.0% annually over the last three years. TD SYNNEX has a payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

TD SYNNEX stock opened at $140.85 on Wednesday. TD SYNNEX has a 52 week low of $98.70 and a 52 week high of $142.13. The firm has a market cap of $11.99 billion, a P/E ratio of 17.69, a P/E/G ratio of 1.02 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The business’s fifty day moving average is $122.27 and its two-hundred day moving average is $119.05.

Insiders Place Their Bets

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now directly owns 23,339 shares of the company’s stock, valued at $2,874,664.63. The trade was a 21.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann F. Vezina sold 839 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was 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 owns 4,856 shares in the company, valued at $660,804.48. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,715 shares of company stock worth $3,433,500. 1.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a report on Wednesday, January 15th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and boosted their target price for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Loop Capital reaffirmed a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. lifted their price objective on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.