TD SYNNEX (NYSE:SNX) Upgraded at StockNews.com

StockNews.com upgraded shares of TD SYNNEX (NYSE:SNX) from a hold rating to a buy rating in a research note published on Tuesday morning.

A number of other research firms have also recently weighed in on SNX. Barrington Research reiterated an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a report on Tuesday, January 7th. 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 note on Monday. Loop Capital reaffirmed a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. increased their price target on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.38.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock opened at $135.98 on Tuesday. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The stock has a 50 day moving average price of $120.48 and a 200-day moving average price of $118.02. TD SYNNEX has a one year low of $98.70 and a one year high of $136.07.

TD SYNNEX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be issued a $0.44 dividend. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.29%. TD SYNNEX’s payout ratio is presently 22.11%.

Insiders Place Their Bets

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This trade represents a 21.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were 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 approximately $13,065,229.60. This represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,876 shares of company stock worth $5,782,129 in the last ninety days. 1.90% of the stock is owned by company insiders.

Institutional Trading of TD SYNNEX

Several hedge funds and other institutional investors have recently bought and sold shares of SNX. FMR LLC raised its position in shares of TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after acquiring an additional 1,154,651 shares in the last quarter. JPMorgan Chase & Co. grew its stake in TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after purchasing an additional 813,634 shares during the last quarter. Pacer Advisors Inc. raised its holdings in TD SYNNEX by 58.9% in the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock worth $313,469,000 after purchasing an additional 1,006,569 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of TD SYNNEX by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock valued at $258,482,000 after buying an additional 177,460 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of TD SYNNEX by 0.7% in the 3rd quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock valued at $262,943,000 after buying an additional 15,995 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

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.