Brokerages Set TD SYNNEX Co. (NYSE:SNX) Target Price at $147.50

TD SYNNEX Co. (NYSE:SNX) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $147.50.

A number of brokerages have recently issued reports on SNX. Royal Bank of Canada boosted their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Barclays boosted their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price target for the stock from $122.00 to $147.00 in a research report on Friday, January 10th.

TD SYNNEX Stock Up 0.5 %

NYSE:SNX opened at $132.81 on Thursday. The firm’s 50 day simple moving average is $135.16 and its 200 day simple moving average is $124.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. TD SYNNEX has a one year low of $102.23 and a one year high of $145.10. The company has a market cap of $11.21 billion, a PE ratio of 16.68, a P/E/G ratio of 1.06 and a beta of 1.49.

TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 annualized dividend and a dividend yield of 1.33%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s payout ratio is currently 22.11%.

Insider Activity

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the sale, the director now owns 4,856 shares in the company, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the sale, the director now owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,172 shares of company stock worth $6,342,766 in the last quarter. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of TD SYNNEX

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in TD SYNNEX by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock valued at $901,323,000 after purchasing an additional 29,659 shares in the last quarter. FMR LLC boosted its holdings in TD SYNNEX by 3.2% during the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock worth $898,738,000 after acquiring an additional 237,587 shares during the last quarter. Brave Warrior Advisors LLC boosted its holdings in TD SYNNEX by 12.2% during the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock worth $486,380,000 after acquiring an additional 451,557 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in TD SYNNEX by 10.7% during the 4th quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider’s stock worth $391,188,000 after acquiring an additional 323,282 shares during the last quarter. Finally, Ninety One UK Ltd boosted its holdings in TD SYNNEX by 75.4% during the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after acquiring an additional 1,016,251 shares during the last quarter. 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.