TD SYNNEX Co. (NYSE:SNX) Sees Significant Increase in Short Interest

TD SYNNEX Co. (NYSE:SNX) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,750,000 shares, a growth of 34.6% from the February 28th total of 1,300,000 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average trading volume of 672,000 shares, the short-interest ratio is currently 2.6 days.

TD SYNNEX Stock Up 1.4 %

Shares of NYSE SNX traded up $1.45 on Wednesday, hitting $105.30. The company had a trading volume of 95,189 shares, compared to its average volume of 790,957. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. TD SYNNEX has a 12-month low of $98.00 and a 12-month high of $145.10. The firm has a market capitalization of $8.88 billion, a P/E ratio of 13.23, a PEG ratio of 1.06 and a beta of 1.51. The business has a 50 day moving average of $134.27 and a two-hundred day moving average of $125.64.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm posted $2.99 earnings per share. As a group, equities research analysts forecast that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.44 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.67%. TD SYNNEX’s payout ratio is currently 21.97%.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction dated 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 $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann F. Vezina sold 839 shares of the company’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 transaction of $114,171.12. Following the completion of the transaction, the director now owns 4,856 shares in the company, valued at approximately $660,804.48. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,172 shares of company stock valued at $6,353,261 over the last ninety days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in TD SYNNEX by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock valued at $901,323,000 after purchasing an additional 29,659 shares during the period. FMR LLC grew its position in shares of TD SYNNEX by 3.2% during the fourth quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock worth $898,738,000 after acquiring an additional 237,587 shares during the last quarter. Brave Warrior Advisors LLC increased its stake in shares of TD SYNNEX by 12.2% in the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock valued at $486,380,000 after purchasing an additional 451,557 shares during the period. JPMorgan Chase & Co. raised its stake in shares of TD SYNNEX by 10.7% during the fourth quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider’s stock valued at $391,188,000 after purchasing an additional 323,282 shares in the last quarter. Finally, Ninety One UK Ltd lifted its position in TD SYNNEX by 75.4% in the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after purchasing an additional 1,016,251 shares during the period. 84.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Barclays decreased their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. Cfra dropped their price objective on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, March 28th. UBS Group reduced their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Finally, The Goldman Sachs Group dropped their price target on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $140.00.

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.