TD SYNNEX’s (SNX) “Outperform” Rating Reiterated at Barrington Research

Barrington Research reiterated their outperform rating on shares of TD SYNNEX (NYSE:SNX) in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $138.00 price target on the business services provider’s stock. Barrington Research also issued estimates for TD SYNNEX’s Q3 2024 earnings at $2.72 EPS.

SNX has been the subject of several other reports. JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $113.00 to $126.00 and gave the stock a neutral rating in a research report on Monday, April 1st. Cfra boosted their price objective on TD SYNNEX from $110.00 to $113.00 and gave the stock a hold rating in a research report on Tuesday, March 26th. UBS Group upgraded TD SYNNEX from a neutral rating to a buy rating and boosted their price objective for the stock from $115.00 to $145.00 in a research report on Tuesday, April 16th. Barclays boosted their price objective on TD SYNNEX from $111.00 to $118.00 and gave the stock an equal weight rating in a research report on Wednesday, March 27th. Finally, Bank of America upped their target price on TD SYNNEX from $120.00 to $140.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $126.10.

TD SYNNEX Stock Down 0.2 %

NYSE:SNX opened at $115.35 on Wednesday. The firm has a market capitalization of $10.28 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 1.12 and a beta of 1.55. The stock has a 50 day moving average of $124.72 and a 200-day moving average of $112.61. TD SYNNEX has a 52 week low of $89.73 and a 52 week high of $133.85. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.12. The business had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $14.37 billion. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. Analysts predict that TD SYNNEX will post 11.38 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

Insider Activity

In other news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now owns 219,363 shares in the company, valued at approximately $25,400,041.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total value of $1,157,900.00. Following the completion of the sale, the chief executive officer now owns 219,363 shares in the company, valued at $25,400,041.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,000 shares of company stock worth $5,833,100. Insiders own 1.90% of the company’s stock.

Institutional Trading of TD SYNNEX

Hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale raised its holdings in shares of TD SYNNEX by 550.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 26,000 shares of the business services provider’s stock worth $2,893,000 after acquiring an additional 22,000 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of TD SYNNEX by 22.1% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 16,594 shares of the business services provider’s stock worth $1,877,000 after acquiring an additional 3,000 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of TD SYNNEX during the first quarter worth $406,000. Lind Value II ApS purchased a new stake in shares of TD SYNNEX during the first quarter worth $77,858,000. Finally, Delphi Management Inc. MA raised its holdings in shares of TD SYNNEX by 24.7% during the first quarter. Delphi Management Inc. MA now owns 15,773 shares of the business services provider’s stock worth $1,784,000 after acquiring an additional 3,120 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Company Profile

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.