Brokerages Set TD SYNNEX Co. (NYSE:SNX) PT at $134.75

TD SYNNEX Co. (NYSE:SNX) has earned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $134.75.

SNX has been the subject of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Loop Capital restated a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a research report on Monday, October 7th. Barclays increased their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research note on Friday, September 27th. Finally, StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a report on Monday, December 9th.

TD SYNNEX Stock Up 1.2 %

Shares of SNX opened at $124.73 on Friday. TD SYNNEX has a 12 month low of $98.70 and a 12 month high of $133.85. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.14 and a beta of 1.47. The company has a 50-day moving average price of $120.37 and a two-hundred day moving average price of $119.15. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.06. The firm had revenue of $14.68 billion during the quarter, compared to the consensus estimate of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $2.71 EPS. Equities analysts predict that TD SYNNEX will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

Insider Buying and Selling at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the sale, the director now owns 171,080 shares of the company’s stock, valued at $20,652,777.60. This trade represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dennis Polk sold 15,689 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total value of $1,834,514.77. Following the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,751,172.58. The trade was a 10.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,645 shares of company stock valued at $8,415,189. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in TD SYNNEX in the 3rd quarter valued at $30,000. UMB Bank n.a. increased its holdings in TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after purchasing an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of TD SYNNEX in the 3rd quarter valued at about $37,000. Blue Trust Inc. lifted its holdings in shares of TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 123 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of TD SYNNEX during the second quarter worth about $52,000. Institutional investors and hedge funds 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.