TD SYNNEX Co. (NYSE:SNX) Receives $149.75 Average Target Price from Analysts

TD SYNNEX Co. (NYSE:SNX) has earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $149.75.

SNX has been the subject of a number of research analyst reports. Barclays upped their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Royal Bank of Canada raised their target price on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Finally, Barrington Research lifted their target price on TD SYNNEX from $138.00 to $156.00 and gave the stock an “outperform” rating in a report on Thursday, March 20th.

TD SYNNEX Stock Performance

SNX stock opened at $125.43 on Monday. The company has a 50-day simple moving average of $136.91 and a 200 day simple moving average of $125.70. The company has a market capitalization of $10.58 billion, a P/E ratio of 15.76, a PEG ratio of 1.06 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. TD SYNNEX has a fifty-two week low of $107.84 and a fifty-two week high of $145.10.

TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s payout ratio is presently 22.11%.

Insiders Place Their Bets

In other news, Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the sale, the director now owns 4,856 shares of the company’s stock, valued at $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the transaction, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock worth $6,353,261 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

Institutional investors and hedge funds have recently bought and sold shares of the business. Pathstone Holdings LLC boosted its holdings in shares of TD SYNNEX by 45.2% during the third quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after purchasing an additional 5,698 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of TD SYNNEX by 117.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,259 shares of the business services provider’s stock valued at $151,000 after buying an additional 679 shares during the period. Intech Investment Management LLC grew its holdings in shares of TD SYNNEX by 18.3% during the 3rd quarter. Intech Investment Management LLC now owns 16,748 shares of the business services provider’s stock valued at $2,011,000 after acquiring an additional 2,589 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of TD SYNNEX by 9.8% in the third quarter. Eagle Asset Management Inc. now owns 44,882 shares of the business services provider’s stock worth $5,646,000 after acquiring an additional 3,995 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of TD SYNNEX by 51.3% during the third quarter. Cerity Partners LLC now owns 16,792 shares of the business services provider’s stock worth $2,016,000 after acquiring an additional 5,691 shares in the last quarter. Hedge funds and other institutional investors 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.