TD SYNNEX Co. (NYSE:SNX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of TD SYNNEX Co. (NYSE:SNX) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $137.22.

Several equities research analysts recently commented on SNX shares. The Goldman Sachs Group cut their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Barrington Research reaffirmed an “outperform” rating and set a $156.00 price objective on shares of TD SYNNEX in a research report on Friday, April 11th. UBS Group decreased their price objective on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a report on Friday, March 28th. Cfra cut their target price on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Finally, Barclays decreased their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th.

Insider Buying and Selling

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the completion of the sale, the director now owns 65,480 shares of the company’s stock, valued at $8,897,422.40. The trade was a 23.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the completion of the sale, the chief executive officer now owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,333 shares of company stock valued at $3,886,690. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On TD SYNNEX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNX. Bartlett & CO. Wealth Management LLC raised its stake in TD SYNNEX by 345.1% in the fourth 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 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 valued at $28,000 after buying an additional 152 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of 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 acquiring an additional 183 shares during the period. UMB Bank n.a. boosted its position in shares of TD SYNNEX by 48.4% during the 4th 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 in the last quarter. Finally, Blue Trust Inc. increased its stake in TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 129 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Trading Up 1.4 %

NYSE SNX opened at $105.67 on Friday. TD SYNNEX has a one year low of $92.23 and a one year high of $145.10. 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 firm has a market cap of $8.87 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.06 and a beta of 1.36. The stock’s 50-day moving average is $123.13 and its 200-day moving average is $123.96.

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

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.67%. TD SYNNEX’s dividend payout ratio is presently 21.97%.

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.