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

TD SYNNEX Co. (NYSE:SNX) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $121.82.

SNX has been the subject of several recent analyst reports. UBS Group raised TD SYNNEX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $115.00 to $145.00 in a report on Tuesday, April 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $118.00 price target (up previously from $110.00) on shares of TD SYNNEX in a report on Wednesday, March 27th. Barclays raised their price target on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 27th. Cfra lifted their target price on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a report on Tuesday, March 26th. Finally, Bank of America lifted their target price on TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd.

TD SYNNEX Price Performance

Shares of SNX stock opened at $116.42 on Friday. TD SYNNEX has a 1-year low of $86.30 and a 1-year high of $119.87. The stock’s 50-day moving average is $110.09 and its 200 day moving average is $103.77. The company has a market cap of $10.37 billion, a P/E ratio of 16.90, a PEG ratio of 1.11 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75.

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

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.37%. The ex-dividend date was Thursday, April 11th. TD SYNNEX’s dividend payout ratio is currently 23.22%.

Insider Activity at TD SYNNEX

In related news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the completion of the transaction, the chief executive officer now directly owns 229,363 shares in the company, valued at $24,213,851.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the completion of the transaction, the chief executive officer now directly owns 229,363 shares in the company, valued at $24,213,851.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the transaction, the insider now owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,000 shares of company stock worth $4,575,600. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of TD SYNNEX

A number of institutional investors and hedge funds have recently made changes to their positions in SNX. Benjamin F. Edwards & Company Inc. increased its position 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 valued at $29,000 after buying an additional 140 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of TD SYNNEX in the first quarter valued at approximately $32,000. Pineridge Advisors LLC purchased a new stake in shares of TD SYNNEX in the fourth quarter valued at approximately $33,000. Daiwa Securities Group Inc. purchased a new stake in shares of TD SYNNEX in the first quarter valued at approximately $68,000. Finally, Gladius Capital Management LP increased its position in shares of TD SYNNEX by 50.8% in 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 in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

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.