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

TD SYNNEX Co. (NYSE:SNX) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $121.82.

SNX has been the subject of several research analyst reports. Bank of America upped their price objective on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Barclays raised their price target on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Cfra raised their target price on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $118.00 price target (up previously from $110.00) on shares of TD SYNNEX in a research report on Wednesday, March 27th.

Insider Buying and Selling

In related news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at $25,400,041.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the transaction, the chief executive officer now owns 219,363 shares in the company, valued at $25,400,041.77. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $4,575,600 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. raised its holdings in shares of TD SYNNEX by 121.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after acquiring an additional 140 shares during the last quarter. Rise Advisors LLC purchased a new position in TD SYNNEX in the 1st quarter valued at about $32,000. Pineridge Advisors LLC acquired a new stake in shares of TD SYNNEX during the 4th quarter worth about $33,000. Daiwa Securities Group Inc. purchased a new stake in shares of TD SYNNEX during the first quarter worth about $68,000. Finally, Gladius Capital Management LP lifted its stake in shares of TD SYNNEX by 50.8% during the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after buying an additional 250 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $121.61 on Friday. The stock’s 50-day simple moving average is $112.10 and its 200-day simple moving average is $104.78. The firm has a market capitalization of $10.84 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.10 and a beta of 1.59. TD SYNNEX has a fifty-two week low of $87.07 and a fifty-two week high of $121.63. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. The company had revenue of $13.98 billion for the quarter, compared to analysts’ expectations of $14.37 billion. As a group, equities research analysts forecast that TD SYNNEX will post 11.38 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.32%. TD SYNNEX’s dividend payout ratio (DPR) is 23.22%.

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.