TD SYNNEX Co. (NYSE:SNX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of TD SYNNEX Co. (NYSE:SNX) have earned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $147.50.

SNX has been the topic of a number of analyst reports. Barclays lifted their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Royal Bank of Canada upped their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Finally, Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and boosted their target price for the company from $122.00 to $147.00 in a research note on Friday, January 10th.

Insider Activity

In related news, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the transaction, the director now owns 4,856 shares of the company’s stock, valued at $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,289 shares of company stock valued at $3,639,500 over the last quarter. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SNX. Arizona State Retirement System grew its stake in TD SYNNEX by 0.4% in the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock worth $2,607,000 after buying an additional 78 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of TD SYNNEX by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock worth $313,000 after acquiring an additional 86 shares during the last quarter. Quadrant Capital Group LLC grew its position in TD SYNNEX by 9.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider’s stock worth $125,000 after acquiring an additional 90 shares in the last quarter. Ellevest Inc. grew its position in TD SYNNEX by 3.9% in the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider’s stock worth $280,000 after acquiring an additional 90 shares in the last quarter. Finally, Utah Retirement Systems increased its stake in TD SYNNEX by 2.5% in the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider’s stock valued at $481,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Price Performance

SNX stock opened at $139.70 on Thursday. The company has a market capitalization of $11.79 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. TD SYNNEX has a 52-week low of $101.21 and a 52-week high of $145.10. The business has a 50-day simple moving average of $133.74 and a two-hundred day simple moving average of $124.01. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24.

TD SYNNEX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were paid a $0.44 dividend. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. This represents a $1.76 annualized dividend and a dividend yield of 1.26%. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

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.