Analysts Set TD SYNNEX Co. (NYSE:SNX) PT at $134.75

TD SYNNEX Co. (NYSE:SNX) has been assigned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $144.38.

A number of analysts have issued reports on the stock. Barclays lifted their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price target on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research report on Tuesday, January 7th.

TD SYNNEX Trading Up 2.4 %

TD SYNNEX stock opened at $135.98 on Wednesday. TD SYNNEX has a 1 year low of $98.70 and a 1 year high of $136.07. The firm’s 50 day moving average price is $120.48 and its 200-day moving average price is $118.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The stock has a market cap of $11.57 billion, a P/E ratio of 17.59, a PEG ratio of 1.14 and a beta of 1.46.

TD SYNNEX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be given a $0.44 dividend. The ex-dividend date of this dividend is 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 yield of 1.29%. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.11%.

Insiders Place Their Bets

In related news, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This trade represents a 21.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the 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 owns 111,080 shares in the company, 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. Insiders sold 47,876 shares of company stock valued at $5,782,129 over the last three months. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in shares of TD SYNNEX during the third quarter valued at approximately $30,000. UMB Bank n.a. raised its position in TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of TD SYNNEX in the 3rd quarter worth $37,000. Ashton Thomas Private Wealth LLC bought a new position in shares of TD SYNNEX during the 2nd quarter worth $52,000. Finally, Point72 DIFC Ltd purchased a new position in shares of TD SYNNEX during the third quarter valued at $55,000. 84.00% of the stock is currently owned by 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.