TD SYNNEX (NYSE:SNX) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of TD SYNNEX (NYSE:SNX) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

Several other brokerages also recently issued reports on SNX. Barclays raised their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and raised their price target for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Royal Bank of Canada raised their price target on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. raised their price objective on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

TD SYNNEX Trading Up 0.3 %

NYSE:SNX opened at $128.94 on Tuesday. TD SYNNEX has a twelve month low of $102.23 and a twelve month high of $145.10. 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 business has a 50 day moving average price of $137.14 and a two-hundred day moving average price of $125.22. The company has a market cap of $10.88 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.36%. TD SYNNEX’s dividend payout ratio is currently 22.11%.

Insiders Place Their Bets

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the sale, the chief executive officer now owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX 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 sale, the director now directly owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,662 shares of company stock worth $6,159,860. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bartlett & CO. Wealth Management LLC lifted its position in shares of TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after buying an additional 152 shares during the period. UMB Bank n.a. raised its holdings in shares of TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after buying an additional 140 shares during the period. Point72 DIFC Ltd bought a new position in TD SYNNEX in the third quarter worth approximately $55,000. Finally, Blue Trust Inc. grew its stake in TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after purchasing an additional 129 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

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.