TD SYNNEX Corporation (NYSE:SNX) Sees Large Drop in Short Interest

TD SYNNEX Corporation (NYSE:SNX) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 1,039,202 shares, a drop of 29.6% from the December 15th total of 1,475,829 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 772,624 shares, the days-to-cover ratio is currently 1.3 days. Based on an average trading volume of 772,624 shares, the days-to-cover ratio is currently 1.3 days. Currently, 1.3% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SNX. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of TD SYNNEX in a research note on Monday, December 22nd. Wall Street Zen upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group lifted their price target on shares of TD SYNNEX from $187.00 to $193.00 and gave the company a “buy” rating in a research note on Friday, January 9th. The Goldman Sachs Group initiated coverage on shares of TD SYNNEX in a research note on Tuesday. They issued a “buy” rating and a $180.00 target price for the company. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $182.00 price objective on shares of TD SYNNEX in a research report on Friday, January 9th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.64.

Insiders Place Their Bets

In other TD SYNNEX news, insider Miriam Anne Murphy sold 1,673 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $156.49, for a total value of $261,807.77. Following the sale, the insider directly owned 16,529 shares in the company, valued at $2,586,623.21. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $153.77, for a total value of $768,850.00. Following the completion of the transaction, the director directly owned 47,515 shares of the company’s stock, valued at approximately $7,306,381.55. This trade represents a 9.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,939 shares of company stock worth $2,910,688 in the last 90 days. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

Several large investors have recently made changes to their positions in SNX. Ossiam lifted its position in shares of TD SYNNEX by 84.3% during the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Dorato Capital Management purchased a new stake in TD SYNNEX in the fourth quarter valued at approximately $27,000. Measured Wealth Private Client Group LLC purchased a new position in TD SYNNEX in the third quarter worth $30,000. Brown Brothers Harriman & Co. increased its position in shares of TD SYNNEX by 675.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 196 shares during the last quarter. Finally, Root Financial Partners LLC bought a new stake in shares of TD SYNNEX in the 3rd quarter worth approximately $42,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Trading Down 0.2%

NYSE SNX traded down $0.33 during trading hours on Friday, reaching $150.05. The company’s stock had a trading volume of 878,325 shares, compared to its average volume of 864,276. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.21 and a quick ratio of 0.75. TD SYNNEX has a 52 week low of $92.23 and a 52 week high of $167.76. The stock has a market cap of $12.22 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.08 and a beta of 1.37. The firm has a fifty day simple moving average of $151.68 and a 200-day simple moving average of $150.50.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, January 8th. The business services provider reported $3.83 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.15. TD SYNNEX had a net margin of 1.32% and a return on equity of 12.60%. The company had revenue of $17.38 billion during the quarter, compared to analysts’ expectations of $15.46 billion. During the same period in the prior year, the company posted $3.09 earnings per share. TD SYNNEX’s revenue for the quarter was up 9.7% compared to the same quarter last year. TD SYNNEX has set its Q1 2026 guidance at 3.000-3.500 EPS. Equities analysts forecast that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.3%. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, January 16th. TD SYNNEX’s dividend payout ratio (DPR) is currently 19.26%.

TD SYNNEX Company Profile

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.