TD SYNNEX Co. (NYSE:SNX) Receives $149.75 Average Target Price from Brokerages

TD SYNNEX Co. (NYSE:SNX) has earned an average rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $149.75.

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and increased their price objective for the company from $122.00 to $147.00 in a report on Friday, January 10th. JPMorgan Chase & Co. boosted their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Finally, Barrington Research increased their price target on TD SYNNEX from $138.00 to $156.00 and gave the company an “outperform” rating in a report on Thursday, March 20th.

TD SYNNEX Price Performance

NYSE SNX opened at $125.43 on Monday. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $10.58 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. TD SYNNEX has a 12-month low of $107.84 and a 12-month high of $145.10. The company has a 50 day moving average price of $136.91 and a two-hundred day moving average price of $125.70.

TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were paid a $0.44 dividend. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 annualized dividend and a dividend yield of 1.40%. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

Insider Buying and Selling at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the transaction, the director now directly owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock valued at $6,353,261 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

A number of hedge funds have recently made changes to their positions in SNX. FMR LLC increased its stake in TD SYNNEX by 18.4% in the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after acquiring an additional 1,154,651 shares during the period. Norges Bank acquired a new stake in TD SYNNEX during the fourth quarter valued at approximately $121,199,000. Ninety One UK Ltd grew its stake in shares of TD SYNNEX by 75.4% in the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after purchasing an additional 1,016,251 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of TD SYNNEX by 343.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider’s stock worth $141,913,000 after buying an additional 937,040 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after buying an additional 813,634 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.