TD SYNNEX (NYSE:SNX) Price Target Cut to $132.00 by Analysts at Bank of America

TD SYNNEX (NYSE:SNX) had its price objective lowered by Bank of America from $135.00 to $132.00 in a research report report published on Thursday, Benzinga reports. Bank of America currently has a buy rating on the business services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada restated a sector perform rating and issued a $135.00 price objective on shares of TD SYNNEX in a research report on Wednesday, June 26th. Barrington Research restated an outperform rating and issued a $138.00 price objective on shares of TD SYNNEX in a research report on Wednesday, June 26th. Cfra lifted their price target 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. JPMorgan Chase & Co. lowered their price target on shares of TD SYNNEX from $126.00 to $123.00 and set a neutral rating for the company in a research report on Wednesday, June 26th. Finally, Barclays lifted their price target on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an equal weight rating in a research report on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $126.10.

TD SYNNEX Trading Down 0.1 %

SNX opened at $115.40 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $10.28 billion, a PE ratio of 16.16, a PEG ratio of 1.13 and a beta of 1.55. TD SYNNEX has a 1-year low of $89.73 and a 1-year high of $133.85. The firm has a 50-day moving average price of $124.72 and a two-hundred day moving average price of $112.75.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, July 12th. TD SYNNEX’s payout ratio is 22.41%.

Insider Buying and Selling

In other TD SYNNEX news, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the transaction, the chief executive officer now owns 219,363 shares of the company’s stock, valued at $25,400,041.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $2,362,000.00. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at $15,908,778.60. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock valued at $5,833,100 in the last 90 days. 1.90% of the stock is owned by insiders.

Institutional Trading of TD SYNNEX

Hedge funds and other institutional investors have recently made changes to their positions in the business. Diversified Trust Co raised its holdings in shares of TD SYNNEX by 15.9% in the fourth quarter. Diversified Trust Co now owns 2,989 shares of the business services provider’s stock valued at $322,000 after purchasing an additional 409 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of TD SYNNEX by 63.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 164,999 shares of the business services provider’s stock valued at $17,756,000 after purchasing an additional 64,024 shares during the last quarter. Norges Bank acquired a new stake in shares of TD SYNNEX in the fourth quarter valued at approximately $79,506,000. Principal Financial Group Inc. raised its holdings in shares of TD SYNNEX by 1.9% in the fourth quarter. Principal Financial Group Inc. now owns 733,239 shares of the business services provider’s stock valued at $78,904,000 after purchasing an additional 13,730 shares during the last quarter. Finally, Raymond James Trust N.A. raised its holdings in shares of TD SYNNEX by 9.0% in the fourth quarter. Raymond James Trust N.A. now owns 3,613 shares of the business services provider’s stock valued at $389,000 after purchasing an additional 297 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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.