TD SYNNEX Co. (NYSE:SNX) Receives Average Recommendation of “Moderate Buy” from Analysts

TD SYNNEX Co. (NYSE:SNX) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $126.10.

A number of analysts recently issued reports on SNX shares. Bank of America dropped their price objective on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group increased their price objective on TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday. Barclays increased their price objective on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 27th. Finally, Cfra raised their price target on TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a report on Tuesday, March 26th.

Insider Activity at TD SYNNEX

In related news, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the transaction, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total value of $1,157,900.00. Following the transaction, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,580,095.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,000 shares of company stock valued at $5,833,100. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

A number of large investors have recently bought and sold shares of SNX. Pacer Advisors Inc. increased its stake in TD SYNNEX by 33,158.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock worth $143,767,000 after purchasing an additional 1,331,988 shares during the period. Vanguard Group Inc. increased its stake in shares of TD SYNNEX by 23.4% during the first quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock valued at $751,143,000 after buying an additional 1,261,474 shares during the period. Norges Bank purchased a new position in shares of TD SYNNEX during the fourth quarter valued at approximately $79,506,000. Lind Value II ApS purchased a new position in shares of TD SYNNEX during the first quarter valued at approximately $77,858,000. Finally, Lord Abbett & CO. LLC purchased a new position in shares of TD SYNNEX during the first quarter valued at approximately $57,981,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Stock Down 0.2 %

Shares of NYSE SNX opened at $115.35 on Friday. TD SYNNEX has a one year low of $89.73 and a one year high of $133.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.75. The business’s fifty day moving average price is $124.72 and its 200-day moving average price is $112.61. The stock has a market capitalization of $10.28 billion, a PE ratio of 16.16, a P/E/G ratio of 1.12 and a beta of 1.55.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.12. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The firm had revenue of $13.98 billion for the quarter, compared to analysts’ expectations of $14.37 billion. On average, equities research analysts anticipate that TD SYNNEX will post 11.38 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. TD SYNNEX’s dividend payout ratio is 22.41%.

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.