TD SYNNEX Co. (NYSE:SNX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of TD SYNNEX Co. (NYSE:SNX) have received a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $134.75.

A number of equities research analysts recently weighed in on the company. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a report on Monday, December 9th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research note on Friday, September 27th. Loop Capital reiterated a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Barclays increased their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd.

TD SYNNEX Stock Down 1.0 %

Shares of NYSE SNX opened at $123.24 on Friday. TD SYNNEX has a 52-week low of $98.70 and a 52-week high of $133.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The business has a fifty day moving average of $120.25 and a two-hundred day moving average of $119.33. The stock has a market cap of $10.49 billion, a PE ratio of 15.94, a PEG ratio of 1.14 and a beta of 1.47.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.06. The firm had revenue of $14.68 billion during the quarter, compared to the consensus estimate of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $2.71 EPS. As a group, equities research analysts expect that TD SYNNEX will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s dividend payout ratio is 20.70%.

Insider Activity at TD SYNNEX

In other news, CFO Marshall Witt sold 5,653 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.15, for a total transaction of $684,860.95. Following the completion of the transaction, the chief financial officer now directly owns 38,279 shares in the company, valued at approximately $4,637,500.85. The trade was a 12.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann F. Vezina sold 1,937 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total transaction of $234,590.07. Following the completion of the sale, the director now owns 5,695 shares in the company, valued at $689,721.45. This represents a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,645 shares of company stock worth $8,415,189 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC grew its position in shares of TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after purchasing an additional 1,154,651 shares during the period. Pacer Advisors Inc. lifted its stake in TD SYNNEX by 58.9% in the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock valued at $313,469,000 after buying an additional 1,006,569 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of TD SYNNEX by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock valued at $258,482,000 after buying an additional 177,460 shares during the period. State Street Corp increased its position in shares of TD SYNNEX by 0.7% during the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock worth $262,943,000 after acquiring an additional 15,995 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of TD SYNNEX by 21.1% during the second quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock worth $178,421,000 after acquiring an additional 269,759 shares during the period. 84.00% of the stock is owned by 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.