Barrington Research Reaffirms Outperform Rating for TD SYNNEX (NYSE:SNX)

Barrington Research restated their outperform rating on shares of TD SYNNEX (NYSE:SNX) in a research report released on Friday,Benzinga reports. Barrington Research currently has a $156.00 price target on the business services provider’s stock.

SNX has been the subject of several other reports. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and increased their price objective for the company from $122.00 to $147.00 in a report on Friday, January 10th. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Royal Bank of Canada upped their price objective 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, Barclays lifted their target price on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

TD SYNNEX Trading Down 2.9 %

NYSE SNX opened at $104.45 on Friday. The firm’s fifty day moving average price is $135.67 and its 200 day moving average price is $125.53. TD SYNNEX has a 12 month low of $98.00 and a 12 month high of $145.10. 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 market capitalization of $8.81 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). The firm had revenue of $14.53 billion for the quarter, compared to analysts’ expectations of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.99 EPS. On average, sell-side analysts expect that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.68%. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

Insider Buying and Selling

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the company’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 in the company, valued at approximately $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the sale, the director now owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,172 shares of company stock valued at $6,353,261 over the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Trading of TD SYNNEX

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of TD SYNNEX by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock valued at $901,323,000 after purchasing an additional 29,659 shares during the last quarter. FMR LLC lifted its stake in TD SYNNEX by 3.2% in the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock valued at $898,738,000 after buying an additional 237,587 shares in the last quarter. Brave Warrior Advisors LLC grew its holdings in TD SYNNEX by 12.2% during the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock valued at $486,380,000 after buying an additional 451,557 shares during the last quarter. JPMorgan Chase & Co. increased its position in TD SYNNEX by 10.7% during the fourth quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider’s stock worth $391,188,000 after buying an additional 323,282 shares in the last quarter. Finally, Ninety One UK Ltd raised its holdings in shares of TD SYNNEX by 75.4% in the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after acquiring an additional 1,016,251 shares during the last quarter. Institutional investors and hedge funds 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.