TD SYNNEX’s (SNX) Outperform Rating Reiterated at Barrington Research

Barrington Research reissued their outperform rating on shares of TD SYNNEX (NYSE:SNX) in a research report report published on Friday,Benzinga reports. They currently have a $156.00 price target on the business services provider’s stock.

A number of other research analysts also recently issued reports on SNX. JPMorgan Chase & Co. upped their target price 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. Cfra upgraded shares of 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. Royal Bank of Canada raised 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. Barclays upped their target price 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. Finally, StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

TD SYNNEX Trading Down 2.9 %

SNX stock opened at $104.45 on Friday. The business has a fifty day moving average price of $135.67 and a 200 day moving average price of $125.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. TD SYNNEX has a fifty-two week low of $98.00 and a fifty-two week high of $145.10. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The business had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. During the same quarter last year, the business posted $2.99 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts expect that TD SYNNEX will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s payout ratio is currently 22.11%.

Insider Activity

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the sale, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann F. Vezina sold 839 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the sale, the director now directly owns 4,856 shares in the company, valued at $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 49,172 shares of company stock worth $6,353,261 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

Large investors have recently made changes to their positions in the stock. Bartlett & CO. Wealth Management LLC lifted its stake in TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Bessemer Group Inc. raised its position 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 valued at $28,000 after buying an additional 152 shares in the last quarter. UMB Bank n.a. boosted its stake 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 valued at $50,000 after buying an additional 140 shares during the period. Point72 DIFC Ltd acquired a new stake in TD SYNNEX during the third quarter worth approximately $55,000. Finally, Blue Trust Inc. grew its position in TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after buying an additional 129 shares in the last quarter. 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.