TD SYNNEX (NYSE:SNX) Given “Outperform” Rating at Barrington Research

Barrington Research restated their outperform rating on shares of TD SYNNEX (NYSE:SNX) in a research report released on Friday,Benzinga reports. They currently have a $156.00 price target on the business services provider’s stock.

Several other analysts have also recently issued reports on SNX. JPMorgan Chase & Co. increased their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada boosted their price objective on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Barclays raised their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and increased their price target for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock opened at $104.45 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The business has a 50 day simple moving average of $135.67 and a two-hundred day simple moving average of $125.53. The stock has a market capitalization of $8.81 billion, a P/E ratio of 13.12, a PEG ratio of 1.06 and a beta of 1.51. TD SYNNEX has a 12 month low of $98.00 and a 12 month high of $145.10.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The firm had revenue of $14.53 billion during the quarter, compared to analysts’ expectations of $14.79 billion. During the same quarter in the previous year, the business posted $2.99 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts predict that TD SYNNEX will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s payout ratio is 22.11%.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the 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 sale, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. This represents a 15.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of the transaction, the chief financial officer now owns 49,843 shares of the company’s stock, valued at approximately $6,383,891.44. This trade represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock worth $6,353,261 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bartlett & CO. Wealth Management LLC raised its position in TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares in the last quarter. Bessemer Group Inc. raised its holdings in TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 152 shares in the last quarter. UMB Bank n.a. lifted its stake in TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after acquiring an additional 140 shares during the last quarter. Point72 DIFC Ltd acquired a new position in TD SYNNEX during the 3rd quarter worth approximately $55,000. Finally, Blue Trust Inc. raised its holdings in shares of TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 129 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

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.