TD SYNNEX (NYSE:SNX) Given New $156.00 Price Target at Barrington Research

TD SYNNEX (NYSE:SNX) had its price objective raised by Barrington Research from $138.00 to $156.00 in a research report released on Thursday, Marketbeat Ratings reports. The firm currently has an outperform rating on the business services provider’s stock.

A number of other equities research analysts also recently commented on the company. Barclays upped their price objective on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. JPMorgan Chase & Co. upped their price target on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada lifted their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and a consensus price target of $149.75.

TD SYNNEX Price Performance

SNX opened at $129.51 on Thursday. The company has a fifty day moving average price of $137.49 and a two-hundred day moving average price of $125.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The firm has a market capitalization of $10.93 billion, a PE ratio of 16.27, a P/E/G ratio of 1.06 and a beta of 1.51. TD SYNNEX has a 52 week low of $104.40 and a 52 week high of $145.10.

TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.36%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

Insider Activity at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the transaction, the chief financial officer now directly owns 49,843 shares of the company’s stock, valued at $6,383,891.44. This represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,172 shares of company stock valued at $6,353,261. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of TD SYNNEX

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Atria Investments Inc increased its stake 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. GSA Capital Partners LLP grew its holdings in shares of TD SYNNEX by 6.3% in the 3rd quarter. GSA Capital Partners LLP now owns 3,952 shares of the business services provider’s stock valued at $475,000 after acquiring an additional 233 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of TD SYNNEX by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after acquiring an additional 86 shares during the last quarter. Natixis Advisors LLC raised its holdings in TD SYNNEX by 11.9% during the third quarter. Natixis Advisors LLC now owns 79,262 shares of the business services provider’s stock worth $9,518,000 after acquiring an additional 8,438 shares in the last quarter. Finally, Quest Partners LLC boosted its position in TD SYNNEX by 619.0% during the third quarter. Quest Partners LLC now owns 7,248 shares of the business services provider’s stock valued at $870,000 after purchasing an additional 6,240 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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.