TD SYNNEX (NYSE:SNX) Given “Sector Perform” Rating at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of TD SYNNEX (NYSE:SNX) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $135.00 price objective on the business services provider’s stock.

A number of other equities analysts also recently weighed in on SNX. Barclays boosted their price target on TD SYNNEX from $111.00 to $118.00 and gave the stock an equal weight rating in a research report on Wednesday, March 27th. Cfra boosted their price target on TD SYNNEX from $110.00 to $113.00 and gave the stock a hold rating in a research report on Tuesday, March 26th. JPMorgan Chase & Co. boosted their price target on TD SYNNEX from $113.00 to $126.00 and gave the stock a neutral rating in a research report on Monday, April 1st. Bank of America boosted their price target on TD SYNNEX from $120.00 to $140.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. Finally, UBS Group upgraded TD SYNNEX from a neutral rating to a buy rating and boosted their price objective for the stock from $115.00 to $145.00 in a report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TD SYNNEX currently has a consensus rating of Moderate Buy and an average target price of $123.55.

TD SYNNEX Price Performance

NYSE:SNX opened at $116.16 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22. The stock’s 50-day simple moving average is $124.64 and its 200 day simple moving average is $112.49. The company has a market cap of $10.35 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.13 and a beta of 1.55. TD SYNNEX has a 52-week low of $87.68 and a 52-week high of $133.85.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. The firm had revenue of $13.98 billion for the quarter, compared to the consensus estimate of $14.37 billion. TD SYNNEX had a return on equity of 12.22% and a net margin of 1.14%. As a group, sell-side analysts forecast that TD SYNNEX will post 11.38 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, July 12th. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.41%.

Insider Activity at TD SYNNEX

In related news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the sale, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the sale, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the completion of the sale, the chief executive officer now owns 219,363 shares of the company’s stock, valued at $25,400,041.77. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its position in TD SYNNEX by 121.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Rise Advisors LLC acquired a new position in TD SYNNEX during the first quarter valued at approximately $32,000. Pineridge Advisors LLC acquired a new position in TD SYNNEX during the fourth quarter valued at approximately $33,000. Daiwa Securities Group Inc. acquired a new position in TD SYNNEX during the first quarter valued at approximately $68,000. Finally, Gladius Capital Management LP increased its holdings in shares of TD SYNNEX by 50.8% during the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock worth $74,000 after buying an additional 250 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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.