TD SYNNEX (NYSE:SNX) Given New $150.00 Price Target at JPMorgan Chase & Co.

TD SYNNEX (NYSE:SNX) had its price target upped by JPMorgan Chase & Co. from $135.00 to $150.00 in a report released on Monday,Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

SNX has been the subject of a number of other research reports. Barclays upped their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Tuesday, January 7th. Loop Capital reaffirmed a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a research report on Monday, October 7th. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $122.00 to $147.00 in a report on Friday. Finally, StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, TD SYNNEX has a consensus rating of “Moderate Buy” and an average price target of $144.38.

TD SYNNEX Trading Down 0.9 %

NYSE:SNX opened at $132.78 on Monday. The firm has a 50-day simple moving average of $120.48 and a 200-day simple moving average of $118.02. TD SYNNEX has a one year low of $98.70 and a one year high of $134.48. The firm has a market cap of $11.30 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.14 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.33%. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

Insider Buying and Selling at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the completion of the sale, the director now owns 171,080 shares of the company’s stock, valued at $20,652,777.60. The trade was a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the transaction, the chief financial officer now owns 48,362 shares in the company, valued at approximately $5,858,089.06. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,876 shares of company stock worth $8,196,529. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNX. FMR LLC lifted its holdings 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 buying an additional 1,154,651 shares during the period. JPMorgan Chase & Co. raised its position in TD SYNNEX by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after acquiring an additional 813,634 shares in the last quarter. Pacer Advisors Inc. lifted its holdings 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 acquiring an additional 1,006,569 shares during the period. Dimensional Fund Advisors LP boosted its position in TD SYNNEX by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock worth $258,482,000 after purchasing an additional 177,460 shares in the last quarter. Finally, State Street Corp grew its stake in shares of TD SYNNEX by 0.7% during the 3rd quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock worth $262,943,000 after purchasing an additional 15,995 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

About TD SYNNEX

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.