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

Shares of TD SYNNEX Co. (NYSE:SNX) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $144.38.

A number of brokerages have weighed in on SNX. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a report on Wednesday, January 15th. JPMorgan Chase & Co. raised their target price 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. Loop Capital reaffirmed a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a report on Monday, October 7th. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and increased their price target for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Finally, Barclays boosted their price objective on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th.

Insider Transactions at TD SYNNEX

In related news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the transaction, the director now directly owns 4,856 shares of the company’s stock, valued at $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the sale, the chief financial officer now directly owns 48,362 shares of the company’s stock, valued at $5,858,089.06. The trade was a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,715 shares of company stock valued at $3,433,500. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Bartlett & CO. Wealth Management LLC raised its holdings in TD SYNNEX by 345.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares during the period. V Square Quantitative Management LLC acquired a new position in TD SYNNEX during the third quarter valued at $30,000. UMB Bank n.a. increased its holdings in shares of TD SYNNEX by 99.3% in the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 144 shares during the period. Kathleen S. Wright Associates Inc. acquired a new position in TD SYNNEX in the 3rd quarter valued at approximately $37,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of TD SYNNEX during the third quarter worth $55,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $142.61 on Friday. The business has a 50 day simple moving average of $126.35 and a 200-day simple moving average of $120.62. TD SYNNEX has a twelve month low of $98.70 and a twelve month high of $144.18. The company has a market capitalization of $12.07 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 1.05 and a beta of 1.46. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46.

TD SYNNEX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, January 24th. This represents a $1.76 annualized dividend and a yield of 1.23%. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s payout ratio is presently 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.