TD SYNNEX Co. (NYSE:SNX) Receives Average Rating of “Moderate Buy” from Analysts

TD SYNNEX Co. (NYSE:SNX) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $134.75.

Several equities research analysts have commented on SNX shares. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Monday, December 9th. Loop Capital reissued a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Barrington Research reaffirmed an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Barclays boosted their target price on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Friday, September 27th.

TD SYNNEX Stock Down 1.0 %

Shares of TD SYNNEX stock opened at $123.24 on Friday. TD SYNNEX has a 52-week low of $98.70 and a 52-week high of $133.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The business’s 50 day simple moving average is $120.25 and its 200 day simple moving average is $119.33. The firm has a market cap of $10.49 billion, a PE ratio of 15.94, a P/E/G ratio of 1.14 and a beta of 1.47.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The company had revenue of $14.68 billion for the quarter, compared to the consensus estimate of $14.11 billion. During the same period last year, the company earned $2.71 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, analysts predict that TD SYNNEX will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.30%. TD SYNNEX’s dividend payout ratio is currently 20.70%.

Insider Transactions at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the completion of the sale, the director now directly owns 171,080 shares in the company, valued at approximately $20,652,777.60. This represents a 10.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at $2,874,664.63. This represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,645 shares of company stock worth $8,415,189. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SNX. Envestnet Portfolio Solutions Inc. bought a new position in shares of TD SYNNEX in the 2nd quarter valued at $242,000. Blue Trust Inc. lifted its holdings in shares of TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after acquiring an additional 123 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of TD SYNNEX in the 2nd quarter valued at approximately $3,684,000. Ninety One UK Ltd grew its holdings in shares of TD SYNNEX by 131.0% during the 2nd quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock valued at $158,298,000 after purchasing an additional 777,924 shares during the last quarter. Finally, Ninety One SA PTY Ltd increased its position in TD SYNNEX by 0.6% during the 2nd quarter. Ninety One SA PTY Ltd now owns 38,193 shares of the business services provider’s stock worth $4,419,000 after purchasing an additional 245 shares in the last quarter. 84.00% of the stock is owned by 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.