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

Shares of TD SYNNEX Co. (NYSE:SNX) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $140.00.

A number of research analysts have commented on SNX shares. Royal Bank of Canada upped their price target on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. The Goldman Sachs Group lowered their target price on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. cut their price target on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating on the stock in a research note on Friday. Barrington Research reissued an “outperform” rating and issued a $156.00 price objective on shares of TD SYNNEX in a research note on Friday. Finally, Barclays cut their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Friday.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the transaction, the director now directly owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,172 shares of company stock valued at $6,353,261. Insiders own 1.00% of the company’s stock.

Institutional Trading of TD SYNNEX

Several institutional investors have recently modified their holdings of SNX. Bartlett & CO. Wealth Management LLC lifted its position in TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. UMB Bank n.a. boosted its position in shares of TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 140 shares during the period. Point72 DIFC Ltd purchased a new position in TD SYNNEX during the 3rd quarter worth approximately $55,000. Finally, Blue Trust Inc. increased its position in TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after buying an additional 129 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

NYSE SNX opened at $104.45 on Monday. The stock has a fifty day simple moving average of $135.67 and a 200-day simple moving average of $125.75. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The stock has a market cap of $8.81 billion, a PE ratio of 13.12, a P/E/G ratio of 1.06 and a beta of 1.51. TD SYNNEX has a twelve month low of $98.00 and a twelve month high of $145.10.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same quarter in the prior year, the business earned $2.99 earnings per share. TD SYNNEX’s revenue was up 4.0% on a year-over-year basis. Equities analysts anticipate that TD SYNNEX will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, April 11th. 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.