TD SYNNEX Co. (NYSE:SNX) Receives $144.38 Average PT from Analysts

TD SYNNEX Co. (NYSE:SNX) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $144.38.

Several research firms have recently weighed in on SNX. JPMorgan Chase & Co. lifted 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. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Barclays boosted 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 note on Monday, January 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research note on Wednesday, January 15th.

Insiders Place Their Bets

In other news, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the business’s 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 sale, the chief financial officer now directly owns 48,362 shares in the company, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,289 shares of company stock valued at $3,639,500. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of large investors have recently made changes to their positions in the stock. Arizona State Retirement System grew its holdings in shares of TD SYNNEX by 0.4% during the fourth quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock valued at $2,607,000 after buying an additional 78 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of TD SYNNEX by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after buying an additional 86 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in TD SYNNEX by 3.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock valued at $315,000 after purchasing an additional 90 shares during the last quarter. AlphaMark Advisors LLC boosted its holdings in TD SYNNEX by 1.3% in the third quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock valued at $929,000 after purchasing an additional 100 shares during the last quarter. Finally, Atria Investments Inc boosted its holdings in TD SYNNEX by 4.1% in the third quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock valued at $344,000 after purchasing an additional 112 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $143.46 on Friday. The company has a 50 day moving average price of $128.04 and a 200-day moving average price of $121.27. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX has a fifty-two week low of $98.70 and a fifty-two week high of $144.18. The company has a market capitalization of $12.14 billion, a PE ratio of 18.02, a P/E/G ratio of 1.06 and a beta of 1.49.

TD SYNNEX Increases Dividend

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