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

TD SYNNEX Co. (NYSE:SNX) has been given an average rating of “Moderate Buy” by the nine research firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $123.55.

SNX has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $135.00 price objective on shares of TD SYNNEX in a research report on Wednesday. Cfra upped their price target on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research note on Tuesday, March 26th. UBS Group upped their price objective on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. Barrington Research reiterated an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday.

TD SYNNEX Stock Performance

Shares of NYSE SNX opened at $116.16 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. The stock has a 50 day simple moving average of $124.64 and a 200-day simple moving average of $112.49. The company has a market cap of $10.35 billion, a PE ratio of 16.27, a P/E/G ratio of 1.13 and a beta of 1.55. TD SYNNEX has a 12-month low of $87.68 and a 12-month high of $133.85.

TD SYNNEX (NYSE:SNX) last released its earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. The firm had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $14.37 billion. TD SYNNEX had a return on equity of 12.22% and a net margin of 1.14%. On average, equities research analysts forecast that TD SYNNEX will post 11.38 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, July 12th. TD SYNNEX’s payout ratio is 22.41%.

Insider Transactions at TD SYNNEX

In related news, insider Dennis Polk sold 20,000 shares of the firm’s 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 completion of the sale, the insider now owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction 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 transaction, the insider now directly 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 available at the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the transaction, the chief executive officer now directly owns 219,363 shares in the company, valued at $25,400,041.77. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in TD SYNNEX by 23.4% in the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock valued at $751,143,000 after buying an additional 1,261,474 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of TD SYNNEX by 38.5% during the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock worth $172,081,000 after acquiring an additional 421,908 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of TD SYNNEX by 33,158.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock worth $143,767,000 after acquiring an additional 1,331,988 shares during the period. Lyrical Asset Management LP lifted its holdings in shares of TD SYNNEX by 0.3% during the 4th quarter. Lyrical Asset Management LP now owns 1,277,884 shares of the business services provider’s stock worth $137,513,000 after acquiring an additional 3,571 shares during the period. Finally, AQR Capital Management LLC increased its position in TD SYNNEX by 2.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,124,694 shares of the business services provider’s stock worth $112,312,000 after purchasing an additional 25,054 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

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.