TD SYNNEX (NYSE:SNX) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of TD SYNNEX (NYSE:SNX) in a report published on Wednesday, Benzinga reports. The firm currently has a $135.00 price target on the business services provider’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Bank of America lifted their price target on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. Barrington Research reiterated an outperform rating and set a $138.00 price target on shares of TD SYNNEX in a report on Wednesday. Cfra boosted their price objective on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a hold rating in a report on Tuesday, March 26th. Barclays boosted their price objective on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an equal weight rating in a report on Wednesday, March 27th. Finally, UBS Group raised TD SYNNEX from a neutral rating to a buy rating and lifted their target price for the company from $115.00 to $145.00 in a research report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $123.55.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $116.16 on Wednesday. TD SYNNEX has a twelve month low of $87.68 and a twelve month high of $133.85. The company’s 50 day moving average is $124.64 and its 200 day moving average is $112.49. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. The company has a market cap of $10.35 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 1.13 and a beta of 1.55.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.12. The company had revenue of $13.98 billion for the quarter, compared to the consensus estimate of $14.37 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.22%. On average, sell-side analysts forecast that TD SYNNEX will post 11.38 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, July 12th. TD SYNNEX’s dividend payout ratio is presently 22.41%.

Insider Buying and Selling

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

Hedge Funds Weigh In On TD SYNNEX

Large investors have recently modified their holdings of the company. Invesco Ltd. grew its stake in shares of TD SYNNEX by 22.0% in the third quarter. Invesco Ltd. now owns 345,202 shares of the business services provider’s stock valued at $34,472,000 after buying an additional 62,296 shares in the last quarter. Northern Trust Corp grew its position in shares of TD SYNNEX by 7.0% in the 3rd quarter. Northern Trust Corp now owns 321,245 shares of the business services provider’s stock worth $32,080,000 after acquiring an additional 21,123 shares in the last quarter. Natixis Advisors L.P. grew its position in shares of TD SYNNEX by 49.6% in the 3rd quarter. Natixis Advisors L.P. now owns 61,567 shares of the business services provider’s stock worth $6,148,000 after acquiring an additional 20,400 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in TD SYNNEX by 193.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,879 shares of the business services provider’s stock valued at $587,000 after purchasing an additional 3,873 shares during the period. Finally, Teza Capital Management LLC acquired a new position in TD SYNNEX during the 3rd quarter valued at approximately $218,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

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.