TD SYNNEX Corp (NYSE:SNX) Chief Executive Officer, Richard T. Hume, has sold a total of $1,301,572 worth of company stock, according to recent SEC filings. The transactions, which took place on June 3, 2024, involved shares sold at prices ranging from $129.59 to $132.06.
The SEC filing revealed that Hume executed multiple sales of TD SYNNEX Common Stock. In a series of transactions, he sold 3,127 shares at an average price of $129.59, 6,661 shares at an average price of $130.38, 112 shares at an average price of $131.05, and a further 100 shares at an average price of $132.06. These sales were made under a pre-arranged Rule 10b5-1 trading plan, which was adopted on November 3, 2023.
Following the sales, Hume still owns a substantial number of shares in the company, with the filings indicating a remaining direct ownership of 209,363 shares of TD SYNNEX Common Stock.
Investors and market watchers often pay close attention to insider sales as they can provide insights into an executive's perspective on the company's current valuation and future prospects. However, it's important to note that insider trading activities can be subject to various personal financial considerations and do not always necessarily indicate a bearish stance on the company's future performance.
TD SYNNEX Corp, a leader in wholesale computer and peripheral equipment and software, has not issued any statement regarding the transactions. The sales were conducted in a transparent manner, with the details provided to the issuer and available upon request for the SEC staff or any security holder of the issuer.
Investors interested in following the company's insider transactions can monitor SEC filings for the most up-to-date information.
InvestingPro Insights
As TD SYNNEX Corp (NYSE:SNX) navigates through the market, recent data from InvestingPro provides a snapshot of its financial health and investor sentiment. The company's Market Cap stands at a robust $10.92B, reflecting a significant presence in the industry. The P/E Ratio, a key indicator of valuation, is currently at 18.48, with an adjusted figure for the last twelve months as of Q1 2024 at a lower 13.9, suggesting a potentially more attractive valuation for investors considering long-term earnings potential.
Investors may also find the Dividend Yield of 1.23% noteworthy, particularly as the company has a history of raising its dividend, with the last increase noted at 14.29%. This, coupled with a strong 1 Year Price Total Return of 42.64%, paints a picture of a company that rewards its shareholders and is experiencing positive momentum in its stock price performance.
Turning to InvestingPro Tips, TD SYNNEX's management has been actively involved in share buybacks, a sign often interpreted as confidence in the company's future prospects. Additionally, the company not only has a high shareholder yield but has also consistently increased its dividend for the past 11 years, demonstrating a commitment to returning value to its shareholders.
For those seeking more in-depth analysis and additional insights, InvestingPro offers a suite of tips and metrics. Currently, there are 18 more InvestingPro Tips available for TD SYNNEX, which can be accessed through the platform. Interested investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing an even greater value for those looking to enhance their investment strategy.
As the next earnings date approaches on August 5, 2024, investors will be keen to see if the positive trends continue and whether the company can maintain its strong performance in the competitive Electronic Equipment, Instruments & Components industry.
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