SYNNEX (SNX) declares a dividend of $0.35

SYNNEX reported on March 28, 2023 that its board of directors declared a regular quarterly dividend of $0.35 per share ($1.40 annualized). Previously, the company paid $0.35 per share.

Shares must be purchased before the ex-div date of April 13, 2023 to qualify for the dividend. Shareholders of record on April 14, 2023 will receive payment on April 28, 2023.

At the current share price of $92.24/share, the dividend yield of the stock is 1.52%. Looking back five years and taking a sample each week, the average dividend yield was 2.03%, the low 0.62% and the high 4.50%. The standard deviation of returns is 1.13 (n=197).

The current dividend yield is 0.45 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is 0.19. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.

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Analyst price forecast suggests 37.12% upside

As of March 28, 2023, the one-year average price target for SYNNEX was $126.48. The predictions range from a low of $110.09 to a high of $157.50. The average price target represents a 37.12% increase from its last reported closing price of $92.24.

Check out our ranking of companies with the biggest upward price target.

Expected annual revenue for SYNNEX is $64,746 million, an increase of 4.43%. Expected non-GAAP annual EPS is $12.57.

What is fund sentiment?

There are 733 funds or institutions reporting positions in SYNNEX. This is an increase of 7 owner(s) or 0.96% over the last quarter. Average portfolio weight of all funds dedicated to SNX is 0.28%, an increase of 6.79%. The total number of shares held by institutions has decreased by 1.20% over the past three months to 86,083,000 shares. SNX’s put/call ratio is 0.48, indicating a bullish outlook.

What do major shareholders do?

Apollo Management Holdings holds 42,602,000 shares representing 45.03% ownership of the company. No change in the last quarter.

FLPSX – Fidelity Low-Priced Stock Fund holds 2,299,000 shares representing 2.43% ownership of the company. In its previous filing, the company said it held 2,300,000 shares, representing
a decrease
by 0.06%. The company

increase

its portfolio allocation to SNX by 3.88% over the last quarter.

Abrams Bison Investments owns 2,169,000 shares representing 2.29% ownership of the company. No change in the last quarter.

Lyrical Asset Management holds 1,359,000 shares representing 1.44% ownership of the company. In its previous filing, the company said it held 919,000 shares, representing
a raise
of 32.35%. The company

increase

its portfolio allocation to SNX by 50.90% in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 1,310,000 shares representing 1.38% ownership of the company. In its previous filing, the company said it held 1,300,000 shares, representing
a raise
by 0.81%. The company

increase

its portfolio allocation to SNX by 8.60% over the last quarter.

General information about TD Synnex
(This description is provided by the company.)

SYNNEX Corporation is a Fortune 200 company and a leading provider of a full range of technology industry distribution, systems design and integration services to a wide range of businesses. Founded in 1980, SYNNEX Corporation operates in many countries in North and South America, Asia-Pacific and Europe.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.