Brokerages Set TD SYNNEX Co. (NYSE:SNX) PT at $149.75

Shares of TD SYNNEX Co. (NYSE:SNX) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $140.00.

SNX has been the topic of several research analyst reports. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays decreased their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday. UBS Group decreased their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Friday. Royal Bank of Canada upped their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Finally, Cfra dropped their price target on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Friday.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of the sale, the director now owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $23,681,372. This represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,172 shares of company stock worth $6,353,261 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of TD SYNNEX by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock worth $901,323,000 after purchasing an additional 29,659 shares during the last quarter. FMR LLC lifted its position in TD SYNNEX by 3.2% during the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock worth $898,738,000 after buying an additional 237,587 shares in the last quarter. Brave Warrior Advisors LLC grew its holdings in TD SYNNEX by 12.2% during the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock worth $486,380,000 after acquiring an additional 451,557 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in TD SYNNEX by 10.7% during the 4th quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider’s stock worth $391,188,000 after acquiring an additional 323,282 shares during the last quarter. Finally, Ninety One UK Ltd raised its stake in shares of TD SYNNEX by 75.4% in the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after acquiring an additional 1,016,251 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $104.45 on Monday. The firm has a fifty day moving average of $135.67 and a 200-day moving average of $125.53. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. TD SYNNEX has a 52-week low of $98.00 and a 52-week high of $145.10. The firm has a market capitalization of $8.81 billion, a P/E ratio of 13.12, a PEG ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same period in the previous year, the firm posted $2.99 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts predict that TD SYNNEX will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Friday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.11%.

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.