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

TD SYNNEX Co. (NYSE:SNX) has earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $147.50.

A number of equities analysts have weighed in on the stock. Barclays upped 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. JPMorgan Chase & Co. raised their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Royal Bank of Canada lifted their price objective on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and increased their target price for the company from $122.00 to $147.00 in a report on Friday, January 10th. Finally, StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Insider Activity at TD SYNNEX

In related news, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total value of $182,906.30. Following the completion of the sale, the chief financial officer now owns 48,362 shares of the company’s stock, valued at approximately $5,858,089.06. This represents a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction dated 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 transaction, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,289 shares of company stock valued at $3,639,500. 1.00% of the stock is currently owned by insiders.

Institutional Trading of TD SYNNEX

A number of hedge funds and other institutional investors have recently made changes to their positions in SNX. International Assets Investment Management LLC grew its position in TD SYNNEX by 11,908.3% in the third quarter. International Assets Investment Management LLC now owns 1,441 shares of the business services provider’s stock worth $173,000 after acquiring an additional 1,429 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of TD SYNNEX by 10.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,409 shares of the business services provider’s stock valued at $169,000 after purchasing an additional 133 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of TD SYNNEX by 15.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,300 shares of the business services provider’s stock worth $756,000 after purchasing an additional 862 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of TD SYNNEX by 13.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,595 shares of the business services provider’s stock worth $1,017,000 after purchasing an additional 995 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in TD SYNNEX by 1.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 35,834 shares of the business services provider’s stock valued at $4,302,000 after buying an additional 385 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Trading Down 1.9 %

Shares of SNX stock opened at $134.85 on Thursday. TD SYNNEX has a 1-year low of $102.23 and a 1-year high of $145.10. The company has a market cap of $11.38 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.06 and a beta of 1.49. 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 50 day simple moving average of $134.90 and a 200-day simple moving average of $124.56.

TD SYNNEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were given a $0.44 dividend. The ex-dividend date was Friday, January 24th. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.31%. TD SYNNEX’s dividend payout ratio is 22.11%.

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.