TD SYNNEX Co. (NYSE:SNX) Given Consensus Recommendation of “Moderate Buy” by Analysts

TD SYNNEX Co. (NYSE:SNX) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $123.36.

SNX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Barclays upped their target price on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 27th. Bank of America boosted their price target on shares of TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. UBS Group raised shares of TD SYNNEX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $115.00 to $145.00 in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada boosted their price target on shares of TD SYNNEX from $118.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 11th.

TD SYNNEX Price Performance

Shares of SNX stock opened at $129.97 on Friday. TD SYNNEX has a 12-month low of $87.68 and a 12-month high of $133.85. The firm has a market capitalization of $11.58 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 1.29 and a beta of 1.55. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The firm has a fifty day moving average of $124.18 and a 200-day moving average of $111.92.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. The firm had revenue of $13.98 billion during the quarter, compared to analyst estimates of $14.37 billion. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. On average, equities research analysts forecast that TD SYNNEX will post 11.38 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.23%. TD SYNNEX’s payout ratio is 23.22%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the transaction, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the transaction, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Diversified Trust Co grew its position in shares of TD SYNNEX by 15.9% during the 4th quarter. Diversified Trust Co now owns 2,989 shares of the business services provider’s stock worth $322,000 after purchasing an additional 409 shares in the last quarter. Norges Bank acquired a new stake in shares of TD SYNNEX during the 4th quarter worth approximately $79,506,000. Principal Financial Group Inc. boosted its position in shares of TD SYNNEX by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 733,239 shares of the business services provider’s stock worth $78,904,000 after acquiring an additional 13,730 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of TD SYNNEX by 9.0% during the 4th quarter. Raymond James Trust N.A. now owns 3,613 shares of the business services provider’s stock worth $389,000 after acquiring an additional 297 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of TD SYNNEX by 8.5% during the 4th quarter. New York State Common Retirement Fund now owns 140,371 shares of the business services provider’s stock worth $15,105,000 after acquiring an additional 10,947 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Company Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.