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 report report published on Tuesday morning.

Other analysts also recently issued reports about the stock. Barrington Research reissued an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a report on Tuesday, January 7th. Barclays raised their target price on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday. Loop Capital reiterated a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research note on Monday, October 7th. Finally, Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and raised their price objective for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TD SYNNEX has a consensus rating of “Moderate Buy” and a consensus target price of $144.38.

TD SYNNEX Stock Up 0.7 %

Shares of TD SYNNEX stock opened at $137.23 on Tuesday. The stock has a 50-day simple moving average of $121.08 and a 200-day simple moving average of $118.29. TD SYNNEX has a 52-week low of $98.70 and a 52-week high of $138.04. The firm has a market cap of $11.68 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 1.24 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77.

TD SYNNEX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be paid a dividend of $0.44 per share. This is an increase 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 annualized dividend and a yield of 1.28%. TD SYNNEX’s dividend 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 on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the sale, the insider now directly owns 23,339 shares in the company, valued at $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 the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the company’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 transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $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 a total of 27,876 shares of company stock valued at $3,319,329 in the last three months. Company insiders own 1.90% of the company’s stock.

Institutional Trading of TD SYNNEX

Institutional investors have recently modified their holdings of the company. CIBC Asset Management Inc raised its stake in shares of TD SYNNEX by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after purchasing an additional 86 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of TD SYNNEX by 3.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock valued at $315,000 after buying an additional 90 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of TD SYNNEX by 1.3% during the 3rd quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock worth $929,000 after acquiring an additional 100 shares during the period. Atria Investments Inc boosted its position in shares of TD SYNNEX by 4.1% during the 3rd quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock valued at $344,000 after acquiring an additional 112 shares in the last quarter. Finally, Meixler Investment Management Ltd. increased its stake in TD SYNNEX by 2.1% in the third quarter. Meixler Investment Management Ltd. now owns 5,814 shares of the business services provider’s stock valued at $698,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

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.