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

TD SYNNEX Co. (NYSE:SNX) announced a quarterly dividend on Thursday, March 27th, RTT News reports. Shareholders of record on Friday, April 11th will be paid a dividend of 0.44 per share by the business services provider on Friday, April 25th. This represents a $1.76 annualized dividend and a yield of 1.40%.

TD SYNNEX has raised its dividend by an average of 22.1% 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. Analysts expect TD SYNNEX to earn $13.62 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 12.9%.

TD SYNNEX Stock Down 0.9 %

Shares of TD SYNNEX stock opened at $125.43 on Thursday. TD SYNNEX has a 1 year low of $106.78 and a 1 year high of $145.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The company has a market capitalization of $10.58 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The business has a 50-day moving average of $136.91 and a two-hundred day moving average of $125.70.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). The company had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.99 earnings per share. As a group, equities analysts predict that TD SYNNEX will post 11.88 EPS for the current year.

Analyst Ratings Changes

SNX has been the subject of a number of analyst reports. Barrington Research lifted their price objective on shares of TD SYNNEX from $138.00 to $156.00 and gave the company an “outperform” rating in a research report on Thursday, March 20th. Barclays raised their price target on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Royal Bank of Canada upped their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their price target for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Finally, StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average price target of $149.75.

Insider Activity

In other news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the sale, the director now directly owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,172 shares of company stock worth $6,353,261. 1.00% of the stock is owned by corporate insiders.

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.