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

TD SYNNEX Corporation (NYSE:SNX) saw a large drop in short interest during 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. Based on an average daily trading volume, of 772,624 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.3% of the shares of the company are short sold. Approximately 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 772,624 shares, the days-to-cover ratio is presently 1.3 days.

TD SYNNEX Trading Down 0.2%

Shares of SNX traded down $0.33 during mid-day trading on Friday, hitting $150.05. The company had a trading volume of 878,325 shares, compared to its average volume of 864,276. The stock has a market cap of $12.22 billion, a PE ratio of 15.05, a P/E/G ratio of 1.08 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. The business’s 50-day simple moving average is $151.68 and its 200-day simple moving average is $150.50. TD SYNNEX has a 1-year low of $92.23 and a 1-year high of $167.76.

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, topping the consensus estimate of $3.68 by $0.15. The company had revenue of $17.38 billion during the quarter, compared to analyst estimates of $15.46 billion. TD SYNNEX had a net margin of 1.32% and a return on equity of 12.60%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.09 earnings per share. TD SYNNEX has set its Q1 2026 guidance at 3.000-3.500 EPS. Sell-side analysts forecast that TD SYNNEX will post 11.88 earnings per share for the current year.

TD SYNNEX Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Raymond James Financial set a $175.00 target price on TD SYNNEX in a research report on Thursday, September 25th. Barrington Research reissued an “outperform” rating and set a $182.00 target price on shares of TD SYNNEX in a research note on Friday, January 9th. Royal Bank Of Canada restated an “outperform” rating on shares of TD SYNNEX in a report on Monday, December 22nd. Barclays dropped their price target on shares of 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. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of TD SYNNEX in a report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, TD SYNNEX has a consensus rating of “Moderate Buy” and an average target price of $170.64.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Alim Dhanji sold 1,762 shares of TD SYNNEX stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $154.55, for a total transaction of $272,317.10. Following the completion of the transaction, the insider owned 13,426 shares in the company, valued at approximately $2,074,988.30. This trade represents a 11.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Merline Saintil sold 336 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $155.79, for a total transaction of $52,345.44. Following the sale, the director directly owned 7,330 shares in the company, valued at $1,141,940.70. This trade represents a 4.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 18,939 shares of company stock worth $2,910,688. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of TD SYNNEX

Several hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of TD SYNNEX during the 2nd quarter worth about $124,618,000. Metropolis Capital Ltd acquired a new position in shares of TD SYNNEX in the 2nd quarter valued at about $115,168,000. Alyeska Investment Group L.P. acquired a new stake in shares of TD SYNNEX during the 3rd quarter valued at $135,631,000. Vanguard Group Inc. grew its stake in TD SYNNEX by 10.1% in the second quarter. Vanguard Group Inc. now owns 8,248,639 shares of the business services provider’s stock valued at $1,119,340,000 after purchasing an additional 759,022 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in TD SYNNEX by 123.6% during the third quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider’s stock valued at $119,263,000 after acquiring an additional 402,573 shares in the last quarter. 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.