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

Shares of TD SYNNEX Co. (NYSE:SNX) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $149.75.

Several equities analysts have recently issued reports on SNX shares. JPMorgan Chase & Co. lifted their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Barrington Research lifted their price objective on shares of TD SYNNEX from $138.00 to $156.00 and gave the stock an “outperform” rating in a research note on Thursday. Royal Bank of Canada raised their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Finally, Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their target price for the stock from $122.00 to $147.00 in a report on Friday, January 10th.

Insider Buying and Selling

In related news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of the sale, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ann F. Vezina sold 839 shares of TD SYNNEX 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 sale, 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. Over the last three months, insiders sold 49,172 shares of company stock worth $6,353,261. 1.00% of the stock is owned by company insiders.

Institutional Trading of TD SYNNEX

A number of institutional investors have recently added to or reduced their stakes in SNX. FMR LLC lifted its stake in TD SYNNEX by 18.4% in the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after acquiring an additional 1,154,651 shares during the last quarter. Norges Bank acquired a new stake in shares of TD SYNNEX in the fourth quarter worth $121,199,000. Ninety One UK Ltd lifted its stake in shares of TD SYNNEX by 75.4% in the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after buying an additional 1,016,251 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of TD SYNNEX by 343.2% in the fourth quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider’s stock worth $141,913,000 after buying an additional 937,040 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after buying an additional 813,634 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

Shares of SNX opened at $127.77 on Monday. The firm’s 50 day moving average is $137.36 and its 200-day moving average is $125.47. The stock has a market capitalization of $10.78 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. TD SYNNEX has a 12-month low of $104.93 and a 12-month high of $145.10.

TD SYNNEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were issued a dividend of $0.44 per share. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Friday, January 24th. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.11%.

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.