TD SYNNEX Co. (NYSE:SNX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

TD SYNNEX Co. (NYSE:SNX) has earned an average rating of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $121.82.

A number of equities analysts recently commented on SNX shares. Barclays lifted their price target on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 27th. Barrington Research upped their target price on TD SYNNEX from $122.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Cfra raised their price target on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research note on Tuesday, March 26th. UBS Group raised TD SYNNEX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $115.00 to $145.00 in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $118.00 target price (up from $110.00) on shares of TD SYNNEX in a research report on Wednesday, March 27th.

TD SYNNEX Stock Up 0.4 %

Shares of NYSE:SNX opened at $120.17 on Friday. The company has a 50-day moving average price of $111.38 and a 200 day moving average price of $104.55. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. TD SYNNEX has a 12 month low of $86.30 and a 12 month high of $121.17. The company has a market cap of $10.71 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.10 and a beta of 1.59.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. The firm had revenue of $13.98 billion during the quarter, compared to analysts’ expectations of $14.37 billion. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. As a group, equities research analysts predict that TD SYNNEX will post 11.38 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Thursday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 23.22%.

Insider Buying and Selling at TD SYNNEX

In other news, insider Dennis Polk sold 20,000 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total value of $1,157,900.00. Following the transaction, the chief executive officer now owns 219,363 shares in the company, valued at $25,400,041.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,000 shares of company stock valued at $4,575,600. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. FMR LLC increased its position in shares of TD SYNNEX by 4.7% during the third quarter. FMR LLC now owns 6,853,828 shares of the business services provider’s stock worth $684,423,000 after purchasing an additional 307,844 shares in the last quarter. Vanguard Group Inc. increased its position in TD SYNNEX by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 5,379,928 shares of the business services provider’s stock valued at $578,934,000 after buying an additional 371,322 shares in the last quarter. Nordea Investment Management AB raised its stake in TD SYNNEX by 38.5% in the first quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock valued at $172,081,000 after buying an additional 421,908 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of TD SYNNEX by 33,158.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock worth $143,767,000 after acquiring an additional 1,331,988 shares during the last quarter. Finally, Lyrical Asset Management LP increased its holdings in shares of TD SYNNEX by 0.3% during the fourth quarter. Lyrical Asset Management LP now owns 1,277,884 shares of the business services provider’s stock valued at $137,513,000 after acquiring an additional 3,571 shares in the last quarter. 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.