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

TD SYNNEX Co. (NYSE:SNX) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $132.57.

SNX has been the subject of a number of research reports. Bank of America decreased their price objective on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, June 27th. Barrington Research reissued an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a report on Monday, September 23rd. Barclays raised their target price on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday. JPMorgan Chase & Co. cut their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Finally, StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th.

TD SYNNEX Stock Performance

NYSE SNX opened at $119.67 on Monday. The company has a market capitalization of $10.23 billion, a P/E ratio of 16.76, a P/E/G ratio of 1.18 and a beta of 1.49. TD SYNNEX has a 52-week low of $89.73 and a 52-week high of $133.85. The company has a fifty day moving average of $116.22 and a 200-day moving average of $118.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.26.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. The company had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.71 EPS. As a group, equities research analysts predict that TD SYNNEX will post 11.22 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of TD SYNNEX stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the transaction, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the sale, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the sale, the chief financial officer now directly owns 45,115 shares in the company, valued at approximately $4,968,966.10. The disclosure for this sale can be found here. Insiders have sold a total of 15,188 shares of company stock worth $1,685,455 in the last three months. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its holdings in shares of 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 acquiring an additional 140 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of TD SYNNEX in the first quarter worth $32,000. Pineridge Advisors LLC acquired a new stake in shares of TD SYNNEX during the fourth quarter worth $33,000. Blue Trust Inc. increased its holdings in shares of TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 123 shares during the period. Finally, GAMMA Investing LLC increased its holdings in TD SYNNEX by 217.5% in the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock worth $52,000 after buying an additional 311 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.