Brokerages Set TD SYNNEX Co. (NYSE:SNX) Target Price at $132.57

Shares of TD SYNNEX Co. (NYSE:SNX) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $132.57.

Several research analysts have recently weighed in on SNX shares. Barrington Research reaffirmed an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. JPMorgan Chase & Co. reduced their price objective 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. UBS Group lifted their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Bank of America reduced their price target on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Finally, StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th.

Insider Transactions at TD SYNNEX

In related news, CFO Marshall Witt sold 11,441 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the transaction, the chief financial officer now owns 45,115 shares in the company, valued at approximately $4,968,966.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other TD SYNNEX 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 transaction, the chief operating officer now directly owns 140,205 shares in the company, valued at $15,882,422.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the sale, the chief financial officer now owns 45,115 shares of the company’s stock, valued at $4,968,966.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,877 shares of company stock worth $3,519,970 in the last ninety days. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of TD SYNNEX in the 3rd quarter valued at $605,000. Sanctuary Advisors LLC acquired a new position in TD SYNNEX in the second quarter valued at about $2,008,000. Teachers Retirement System of The State of Kentucky boosted its stake in TD SYNNEX by 60.3% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 26,594 shares of the business services provider’s stock worth $3,069,000 after buying an additional 10,000 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of TD SYNNEX by 3.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock valued at $315,000 after acquiring an additional 90 shares during the last quarter. Finally, Creative Planning raised its stake in shares of TD SYNNEX by 21.3% in the 2nd quarter. Creative Planning now owns 8,614 shares of the business services provider’s stock valued at $994,000 after acquiring an additional 1,513 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

SNX opened at $117.31 on Monday. The firm has a fifty day moving average price of $116.24 and a 200 day moving average price of $118.24. TD SYNNEX has a 1 year low of $89.73 and a 1 year high of $133.85. The stock has a market cap of $10.03 billion, a P/E ratio of 16.43, a P/E/G ratio of 1.19 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.78.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The business had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. During the same period in the prior year, the company posted $2.71 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts anticipate that TD SYNNEX will post 11.22 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is 22.41%.

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.