TD SYNNEX Corporation (NYSE:SNX) Receives $142.56 Consensus Price Target from Brokerages

Shares of TD SYNNEX Corporation (NYSE:SNXGet Free Report) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $142.56.

SNX has been the topic of a number of research analyst reports. Barclays set a $140.00 target price on shares of TD SYNNEX in a research note on Tuesday, June 24th. Royal Bank Of Canada reissued an “outperform” rating and issued a $145.00 price objective on shares of TD SYNNEX in a research note on Wednesday, June 25th. UBS Group reduced their price objective on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Friday, March 28th. The Goldman Sachs Group lowered their target price on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a report on Friday, March 28th. Finally, Barrington Research restated an “outperform” rating and set a $156.00 price target on shares of TD SYNNEX in a research note on Monday, June 23rd.

Read Our Latest Stock Analysis on TD SYNNEX

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $140.21 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average is $124.32 and its two-hundred day moving average is $124.90. TD SYNNEX has a 52 week low of $92.23 and a 52 week high of $145.10. The company has a market capitalization of $11.56 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.16 and a beta of 1.30.

TD SYNNEX (NYSE:SNXGet Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.28. The firm had revenue of $14.95 billion for the quarter, compared to analysts’ expectations of $14.30 billion. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.73 earnings per share. As a group, analysts expect that TD SYNNEX will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be issued a $0.44 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.26%. TD SYNNEX’s dividend payout ratio is presently 20.56%.

Insider Transactions at TD SYNNEX

In related news, insider Miriam Anne Murphy sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the sale, the insider owned 14,883 shares of the company’s stock, valued at $1,637,130. This trade represents a 16.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard T. Hume sold 63,310 shares of the business’s stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the completion of the transaction, the director owned 67,515 shares of the company’s stock, valued at $9,197,568.45. This represents a 48.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 67,819 shares of company stock valued at $9,143,874. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SNX. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in TD SYNNEX by 329.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider’s stock worth $25,000 after purchasing an additional 188 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after purchasing an additional 152 shares in the last quarter. Versant Capital Management Inc grew its stake in TD SYNNEX by 115.1% during the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock worth $36,000 after buying an additional 183 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in TD SYNNEX during the 1st quarter valued at about $44,000. Finally, Quarry LP purchased a new stake in TD SYNNEX in the first quarter valued at about $51,000. Institutional investors own 84.00% of the company’s stock.

About TD SYNNEX

(Get Free Report

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.

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Analyst Recommendations for TD SYNNEX (NYSE:SNX)

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