Brokerages Set TD SYNNEX Co. (NYSE:SNX) Target Price at $127.33

Shares of TD SYNNEX Co. (NYSE:SNX) have earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $127.33.

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Barrington Research restated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research note on Wednesday, June 26th. Royal Bank of Canada upgraded shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $135.00 to $140.00 in a research report on Monday, July 15th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, UBS Group boosted their price target on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th.

TD SYNNEX Trading Up 0.3 %

SNX opened at $110.56 on Thursday. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. TD SYNNEX has a 52 week low of $89.73 and a 52 week high of $133.85. The business’s 50 day moving average is $115.55 and its two-hundred day moving average is $116.91. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.10 and a beta of 1.49.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 EPS for the quarter, missing the consensus estimate of $2.66 by ($0.05). TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The business had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $14.12 billion. On average, research analysts predict that TD SYNNEX will post 11.22 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, July 12th. TD SYNNEX’s dividend payout ratio (DPR) is 22.41%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the sale, the insider now directly owns 134,706 shares in the company, valued at $15,580,095.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the sale, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the transaction, 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. Insiders sold 35,188 shares of company stock valued at $3,998,655 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SNX. Sanctuary Advisors LLC acquired a new stake in TD SYNNEX during the 2nd quarter valued at $2,008,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of TD SYNNEX by 60.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 26,594 shares of the business services provider’s stock valued at $3,069,000 after acquiring an additional 10,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of TD SYNNEX by 3.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock valued at $315,000 after acquiring an additional 90 shares during the last quarter. Creative Planning increased its position in TD SYNNEX by 21.3% during the 2nd quarter. Creative Planning now owns 8,614 shares of the business services provider’s stock worth $994,000 after purchasing an additional 1,513 shares in the last quarter. Finally, Algert Global LLC raised its stake in TD SYNNEX by 319.8% in the 2nd quarter. Algert Global LLC now owns 10,159 shares of the business services provider’s stock valued at $1,172,000 after purchasing an additional 7,739 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

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.