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

TD SYNNEX Co. (NYSE:SNX) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research 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 brokerages that have covered the stock in the last year is $132.57.

Several equities research analysts have weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research report on Friday, September 27th. Barrington Research reiterated an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. Barclays boosted 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. JPMorgan Chase & Co. dropped their price target on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Finally, StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th.

TD SYNNEX Trading Up 1.7 %

TD SYNNEX stock opened at $117.31 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. TD SYNNEX has a 1 year low of $89.73 and a 1 year high of $133.85. The firm’s 50-day moving average is $116.22 and its 200-day moving average is $118.55. The company has a market cap of $10.03 billion, a P/E ratio of 16.43, a PEG ratio of 1.18 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06. The company had revenue of $14.68 billion during 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%. TD SYNNEX’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.71 earnings per share. On average, equities analysts expect that TD SYNNEX will post 11.06 earnings per share for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.36%. TD SYNNEX’s dividend payout ratio is presently 22.41%.

Insiders Place Their Bets

In other news, insider Dennis Polk sold 15,689 shares of TD SYNNEX stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the transaction, the insider now directly owns 134,706 shares in the company, valued at approximately $15,751,172.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Dennis Polk sold 15,689 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was 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 owns 134,706 shares of the company’s stock, valued at $15,751,172.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $113.28, for a total transaction of $397,952.64. Following the completion of the sale, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,877 shares of company stock worth $3,519,970 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Institutional Trading of TD SYNNEX

Large investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB increased its holdings in shares of TD SYNNEX by 69.8% in the third quarter. Handelsbanken Fonder AB now owns 22,142 shares of the business services provider’s stock valued at $2,659,000 after buying an additional 9,100 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of TD SYNNEX during the third quarter worth $605,000. Sanctuary Advisors LLC acquired a new position in shares of TD SYNNEX in the 2nd quarter valued at $2,008,000. Teachers Retirement System of The State of Kentucky increased its position in shares of TD SYNNEX by 60.3% in 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 acquiring an additional 10,000 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings 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 period. 84.00% of the stock is currently owned by institutional investors.

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.