TD SYNNEX Corporation (NYSE:SNX) Given Average Recommendation of “Moderate Buy” by Brokerages

TD SYNNEX Corporation (NYSE:SNX) has been given an average rating of “Moderate Buy” by the ten brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $149.30.

A number of analysts recently issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $145.00 price target on shares of TD SYNNEX in a research note on Wednesday, June 25th. Barclays set a $140.00 price target on shares of TD SYNNEX in a research note on Tuesday, June 24th. Bank of America lifted their price target on shares of TD SYNNEX from $156.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on shares of TD SYNNEX from $143.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Loop Capital lifted their price target on shares of TD SYNNEX from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 30th.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $146.71 on Friday. TD SYNNEX has a 12-month low of $92.23 and a 12-month high of $147.18. The company has a market capitalization of $12.10 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.20 and a beta of 1.30. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75. The firm’s fifty day moving average price is $131.88 and its 200 day moving average price is $127.48.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.28. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The firm had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter in the previous year, the firm posted $2.73 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, research analysts forecast that TD SYNNEX will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, July 11th. TD SYNNEX’s dividend payout ratio is presently 20.56%.

Insider Activity

In other news, Director Richard T. Hume sold 63,310 shares of the business’s stock in a transaction on Friday, June 27th. The shares were sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the completion of the transaction, the director owned 67,515 shares of the company’s stock, valued at approximately $9,197,568.45. The trade was a 48.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alim Dhanji sold 1,257 shares of the business’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total transaction of $179,009.37. Following the transaction, the insider directly owned 10,984 shares of the company’s stock, valued at approximately $1,564,231.44. This trade represents a 10.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 69,076 shares of company stock worth $9,322,884. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently modified their holdings of the company. Bessemer Group Inc. boosted its holdings in shares of TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 152 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of TD SYNNEX by 329.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 188 shares during the period. Versant Capital Management Inc boosted its holdings in shares of TD SYNNEX by 115.1% during the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 183 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in TD SYNNEX in the first quarter worth about $44,000. Finally, Quarry LP bought a new position in TD SYNNEX in the 1st quarter valued at about $51,000. Institutional investors and hedge funds 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.