TD SYNNEX Co. (NYSE:SNX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of TD SYNNEX Co. (NYSE:SNX) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $134.75.

SNX has been the topic of several recent research reports. Barrington Research reiterated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Barclays raised their target price on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Loop Capital reissued a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research note on Monday, October 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. Finally, StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday.

Insider Transactions at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the completion of the sale, the director now directly owns 171,080 shares of the company’s stock, valued at approximately $20,652,777.60. This represents a 10.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dennis Polk sold 15,689 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at approximately $15,751,172.58. The trade was a 10.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,155 shares of company stock valued at $8,598,095 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

Several large investors have recently made changes to their positions in SNX. CIBC Asset Management Inc boosted its stake in TD SYNNEX by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock worth $313,000 after purchasing an additional 86 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of TD SYNNEX by 3.4% in 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 purchasing an additional 90 shares in the last quarter. AlphaMark Advisors LLC boosted its position in shares of TD SYNNEX by 1.3% during the third quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock worth $929,000 after buying an additional 100 shares during the period. Fifth Third Bancorp grew its holdings in shares of TD SYNNEX by 11.1% during the second quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock worth $123,000 after buying an additional 106 shares in the last quarter. Finally, Atria Investments Inc raised its position in TD SYNNEX by 4.1% in the 3rd quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock valued at $344,000 after buying an additional 112 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Price Performance

SNX opened at $116.90 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The stock has a market capitalization of $9.95 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 1.14 and a beta of 1.47. The company’s 50 day simple moving average is $120.23 and its 200-day simple moving average is $119.04. TD SYNNEX has a one year low of $98.70 and a one year high of $133.85.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data 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. The firm had revenue of $14.68 billion for the quarter, compared to the consensus estimate of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.71 EPS. Sell-side analysts anticipate that TD SYNNEX will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.40 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.37%. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.70%.

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.