TD SYNNEX (NYSE:SNX) Reaches New 1-Year High – Time to Buy?

TD SYNNEX Co. (NYSE:SNX)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $144.27 and last traded at $143.85, with a volume of 65281 shares traded. The stock had previously closed at $143.46.

Analyst Ratings Changes

Several research firms have issued reports on SNX. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and upped their price objective for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research report on Wednesday, January 15th. JPMorgan Chase & Co. increased their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, Barclays raised their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.38.

TD SYNNEX Stock Down 0.3 %

The firm has a market capitalization of $12.10 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.06 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The stock has a fifty day moving average of $128.04 and a 200 day moving average of $121.27.

TD SYNNEX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 annualized dividend and a yield of 1.23%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total transaction of $182,906.30. Following the transaction, the chief financial officer now directly owns 48,362 shares in the company, valued at approximately $5,858,089.06. This represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,289 shares of company stock valued at $3,639,500 in the last 90 days. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC grew its holdings in TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of TD SYNNEX in the 3rd quarter worth about $30,000. UMB Bank n.a. grew its holdings in shares of TD SYNNEX by 99.3% during the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after buying an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of TD SYNNEX during the third quarter valued at $37,000. Finally, Point72 DIFC Ltd purchased a new position in shares of TD SYNNEX during the third quarter valued at approximately $55,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.