JPMorgan Chase & Co. Issues Positive Forecast for TD SYNNEX (NYSE:SNX) Stock Price

TD SYNNEX (NYSE:SNX) had its target price increased by JPMorgan Chase & Co. from $135.00 to $150.00 in a research note released on Monday,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Other equities research analysts have also issued research reports about the stock. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price target for the stock from $122.00 to $147.00 in a report on Friday. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Loop Capital reaffirmed a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a research note on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Tuesday, January 7th. Finally, Barrington Research restated an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $144.38.

TD SYNNEX Stock Down 0.9 %

Shares of SNX opened at $132.78 on Monday. The firm has a market cap of $11.30 billion, a P/E ratio of 17.18, a PEG ratio of 1.14 and a beta of 1.46. TD SYNNEX has a 12 month low of $98.70 and a 12 month high of $134.48. The stock’s 50 day moving average is $120.48 and its two-hundred day moving average is $118.02. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

TD SYNNEX Increases Dividend

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

Insiders Place Their Bets

In related news, insider David R. Vetter sold 20,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $123.14, for a total value of $2,462,800.00. Following the completion of the sale, the insider now owns 66,381 shares of the company’s stock, valued at approximately $8,174,156.34. This represents a 23.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now directly owns 23,339 shares in the company, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,876 shares of company stock valued at $8,196,529. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

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

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.