TD SYNNEX Corporation (SNX) to Issue Quarterly Dividend of $0.48 on April 29th

TD SYNNEX Corporation (NYSE:SNX) declared a quarterly dividend on Tuesday, March 31st. Investors of record on Wednesday, April 15th will be given a dividend of 0.48 per share by the business services provider on Wednesday, April 29th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, April 15th.

TD SYNNEX has increased its dividend payment by an average of 0.3%annually over the last three years and has increased its dividend every year for the last 5 years. TD SYNNEX has a dividend payout ratio of 14.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect TD SYNNEX to earn $13.62 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 14.1%.

TD SYNNEX Price Performance

SNX stock opened at $199.89 on Monday. TD SYNNEX has a 1 year low of $98.75 and a 1 year high of $205.01. The company has a market cap of $16.07 billion, a P/E ratio of 16.62, a PEG ratio of 1.03 and a beta of 1.23. The firm has a 50-day moving average of $165.17 and a 200 day moving average of $157.70. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $1.49. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The company had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $15.59 billion. During the same period in the prior year, the firm earned $2.80 earnings per share. TD SYNNEX’s revenue was up 18.1% on a year-over-year basis. On average, sell-side analysts forecast that TD SYNNEX will post 11.88 EPS for the current year.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO David Gregory Jordan sold 3,225 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $189.46, for a total transaction of $611,008.50. Following the completion of the transaction, the chief financial officer owned 14,035 shares of the company’s stock, valued at approximately $2,659,071.10. This trade represents a 18.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard T. Hume sold 25,000 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $160.67, for a total transaction of $4,016,750.00. Following the sale, the director owned 47,515 shares in the company, valued at approximately $7,634,235.05. The trade was a 34.48% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 82,165 shares of company stock valued at $13,559,368. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors have recently made changes to their positions in the company. Virtu Financial LLC grew its holdings in shares of TD SYNNEX by 25.3% during the fourth quarter. Virtu Financial LLC now owns 2,008 shares of the business services provider’s stock valued at $302,000 after buying an additional 405 shares during the last quarter. Invesco Ltd. grew its holdings in shares of TD SYNNEX by 5.3% during the fourth quarter. Invesco Ltd. now owns 741,328 shares of the business services provider’s stock valued at $111,370,000 after buying an additional 37,305 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of TD SYNNEX by 230.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,490 shares of the business services provider’s stock valued at $975,000 after buying an additional 4,526 shares during the last quarter. Vident Advisory LLC grew its holdings in shares of TD SYNNEX by 28.2% during the fourth quarter. Vident Advisory LLC now owns 34,926 shares of the business services provider’s stock valued at $5,247,000 after buying an additional 7,687 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in shares of TD SYNNEX during the fourth quarter valued at approximately $760,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

About TD SYNNEX

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.