TD SYNNEX Co. (NYSE:SNX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of TD SYNNEX Co. (NYSE:SNX) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $147.50.

A number of brokerages have commented on SNX. Royal Bank of Canada increased their price target 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 increased 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 note on Monday, January 13th. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and increased their price target for the company from $122.00 to $147.00 in a research note on Friday, January 10th. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. increased their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, January 13th.

Insider Buying and Selling

In related news, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the transaction, the director now directly owns 65,480 shares in the company, valued at approximately $8,897,422.40. This represents a 23.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,172 shares of company stock valued at $6,342,766. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

A number of hedge funds have recently bought and sold shares of SNX. FMR LLC increased its holdings in TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after buying an additional 1,154,651 shares during the period. Norges Bank acquired a new stake in shares of TD SYNNEX in the 4th quarter valued at approximately $121,199,000. Ninety One UK Ltd boosted its stake in shares of TD SYNNEX by 75.4% in the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after purchasing an additional 1,016,251 shares in the last quarter. Nuveen Asset Management LLC boosted its position in TD SYNNEX by 343.2% during the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider’s stock worth $141,913,000 after buying an additional 937,040 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after buying an additional 813,634 shares during the period. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $132.81 on Thursday. The stock has a market cap of $11.21 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.06 and a beta of 1.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The company has a fifty day moving average price of $135.16 and a two-hundred day moving average price of $124.66. TD SYNNEX has a one year low of $102.23 and a one year high of $145.10.

TD SYNNEX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.33%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 24th. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.11%.

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.