TD SYNNEX (NYSE:SNX) Price Target Raised to $156.00

TD SYNNEX (NYSE:SNX) had its price objective lifted by Barrington Research from $138.00 to $156.00 in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have an outperform rating on the business services provider’s stock.

Several other research firms have also commented on SNX. JPMorgan Chase & Co. upped their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Royal Bank of Canada upped their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Barclays upped their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Finally, Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and upped their price target for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.75.

TD SYNNEX Price Performance

NYSE SNX opened at $127.77 on Thursday. TD SYNNEX has a 52 week low of $104.93 and a 52 week high of $145.10. The firm has a market capitalization of $10.78 billion, a P/E ratio of 16.05, a PEG ratio of 1.06 and a beta of 1.51. 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 company has a 50-day moving average price of $137.36 and a 200-day moving average price of $125.40.

TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.38%. TD SYNNEX’s payout ratio is 22.11%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 165,604 shares in the company, valued at $23,681,372. This represents a 3.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction that occurred 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 owns 111,080 shares of the company’s stock, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,172 shares of company stock worth $6,353,261. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNX. 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 during the last quarter. GSA Capital Partners LLP boosted its position in shares of TD SYNNEX by 6.3% during the 3rd quarter. GSA Capital Partners LLP now owns 3,952 shares of the business services provider’s stock valued at $475,000 after acquiring an additional 233 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of TD SYNNEX by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after acquiring an additional 86 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of TD SYNNEX by 11.9% during the 3rd quarter. Natixis Advisors LLC now owns 79,262 shares of the business services provider’s stock valued at $9,518,000 after acquiring an additional 8,438 shares during the last quarter. Finally, Quest Partners LLC boosted its position in shares of TD SYNNEX by 619.0% during the 3rd quarter. Quest Partners LLC now owns 7,248 shares of the business services provider’s stock valued at $870,000 after acquiring an additional 6,240 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

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.