TD SYNNEX (NYSE:SNX) Price Target Raised to $148.00 at Barclays

TD SYNNEX (NYSE:SNX) had its target price raised by Barclays from $132.00 to $148.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

Several other equities research analysts have also recently commented on SNX. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and raised their target price for the stock from $122.00 to $147.00 in a research note on Friday. Loop Capital reissued a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Tuesday, January 7th. Barrington Research reissued an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. Finally, StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.38.

TD SYNNEX Trading Down 0.9 %

NYSE:SNX opened at $132.78 on Monday. 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 firm’s fifty day moving average is $120.48 and its 200-day moving average is $118.02. TD SYNNEX has a 52 week low of $98.70 and a 52 week high of $134.48. The firm has a market cap of $11.30 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.14 and a beta of 1.46.

TD SYNNEX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.33%. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, January 24th. TD SYNNEX’s payout ratio is currently 22.11%.

Insider Activity

In related news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $120.72, for a total value of $2,414,400.00. Following the sale, the director now owns 171,080 shares of the company’s stock, valued at approximately $20,652,777.60. The trade was a 10.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,876 shares of company stock worth $8,196,529 over the last quarter. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new position in shares of TD SYNNEX in the third quarter valued at approximately $30,000. UMB Bank n.a. grew its position in shares of TD SYNNEX by 99.3% during 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 in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of TD SYNNEX in the third quarter worth $37,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of TD SYNNEX in the second quarter worth $52,000. Finally, Point72 DIFC Ltd bought a new stake in TD SYNNEX during the third quarter valued at $55,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.