TD SYNNEX Co. (NYSE:SNX – Get Free Report)’s stock price reached a new 52-week high during trading on Tuesday after StockNews.com upgraded the stock from a hold rating to a buy rating. The company traded as high as $134.97 and last traded at $134.19, with a volume of 65583 shares changing hands. The stock had previously closed at $132.84.
Several other equities research analysts have also recently issued reports on the company. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a report on Monday, September 23rd. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and boosted their target price for the company from $122.00 to $147.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. boosted their target price on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday. Loop Capital reiterated a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. Finally, Barclays boosted their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.38.
Check Out Our Latest Stock Analysis on SNX
Insider Activity at TD SYNNEX
Institutional Investors Weigh In On TD SYNNEX
Hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new stake in TD SYNNEX in the third quarter valued at $30,000. UMB Bank n.a. boosted its stake 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 worth $35,000 after acquiring an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of TD SYNNEX during the 3rd quarter worth about $37,000. Point72 DIFC Ltd purchased a new stake in shares of TD SYNNEX during the 3rd quarter worth about $55,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of TD SYNNEX during the 3rd quarter worth about $58,000. 84.00% of the stock is owned by hedge funds and other institutional investors.
TD SYNNEX Stock Performance
The firm’s 50 day moving average price is $120.83 and its 200-day moving average price is $118.16. 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 has a market capitalization of $11.59 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46.
TD SYNNEX Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be paid a dividend of $0.44 per share. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Friday, January 24th. TD SYNNEX’s dividend 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.
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