Short Interest in TD SYNNEX Corporation (NYSE:SNX) Grows By 22.2%

TD SYNNEX Corporation (NYSE:SNX) was the target of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 1,527,247 shares, a growth of 22.2% from the January 29th total of 1,249,793 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average trading volume of 753,520 shares, the days-to-cover ratio is presently 2.0 days. Based on an average trading volume of 753,520 shares, the days-to-cover ratio is presently 2.0 days. Approximately 1.9% of the shares of the company are short sold.

TD SYNNEX Trading Down 0.7%

TD SYNNEX stock traded down $1.10 during trading hours on Tuesday, hitting $156.05. The stock had a trading volume of 474,957 shares, compared to its average volume of 787,901. The business’s 50 day simple moving average is $156.70 and its 200-day simple moving average is $153.99. TD SYNNEX has a one year low of $92.23 and a one year high of $175.56. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 1.13 and a beta of 1.37. The company has a quick ratio of 0.75, a current ratio of 1.21 and a debt-to-equity ratio of 0.43.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, January 8th. The business services provider reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.68 by $0.15. TD SYNNEX had a return on equity of 12.60% and a net margin of 1.32%.The company had revenue of $17.38 billion during the quarter, compared to the consensus estimate of $15.46 billion. During the same quarter in the prior year, the firm posted $3.09 earnings per share. The firm’s revenue 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. On average, equities analysts predict that TD SYNNEX will post 11.88 EPS for the current fiscal year.

TD SYNNEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were paid a $0.48 dividend. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, January 16th. TD SYNNEX’s payout ratio is presently 19.26%.

Analyst Ratings Changes

A number of research firms have recently weighed in on SNX. The Goldman Sachs Group initiated coverage on shares of TD SYNNEX in a research report on Tuesday, January 13th. They issued a “buy” rating and a $180.00 price target for the company. Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Morgan Stanley reduced their target price on TD SYNNEX from $177.00 to $172.00 and set an “overweight” rating on the stock in a report on Friday, January 9th. Royal Bank Of Canada reissued an “outperform” rating on shares of TD SYNNEX in a report on Monday, December 22nd. Finally, Barclays reduced their price objective on TD SYNNEX from $164.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, January 9th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.64.

Insider Activity at TD SYNNEX

In other news, CEO Patrick Zammit sold 13,900 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $171.57, for a total value of $2,384,823.00. Following the transaction, the chief executive officer directly owned 170,928 shares of the company’s stock, valued at $29,326,116.96. This represents a 7.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Merline Saintil sold 168 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $153.38, for a total transaction of $25,767.84. Following the completion of the transaction, the director directly owned 7,162 shares in the company, valued at approximately $1,098,507.56. This represents a 2.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 80,916 shares of company stock worth $13,111,209. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC increased its stake in shares of TD SYNNEX by 25.3% in 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 period. Invesco Ltd. increased its position in TD SYNNEX by 5.3% during the 4th quarter. Invesco Ltd. now owns 741,328 shares of the business services provider’s stock valued at $111,370,000 after purchasing an additional 37,305 shares during the period. Mercer Global Advisors Inc. ADV increased its position in TD SYNNEX by 230.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,490 shares of the business services provider’s stock valued at $975,000 after purchasing an additional 4,526 shares during the period. Vident Advisory LLC raised its holdings in TD SYNNEX by 28.2% during the 4th quarter. Vident Advisory LLC now owns 34,926 shares of the business services provider’s stock worth $5,247,000 after purchasing an additional 7,687 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in shares of TD SYNNEX in the 4th quarter worth approximately $760,000. 84.00% of the stock is owned by institutional investors and hedge funds.

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.