TD SYNNEX’s (SNX) Outperform Rating Reaffirmed at Barrington Research

Barrington Research reiterated their outperform rating on shares of TD SYNNEX (NYSE:SNX) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $138.00 price objective on the business services provider’s stock. Barrington Research also issued estimates for TD SYNNEX’s Q3 2024 earnings at $2.72 EPS.

Other analysts have also issued reports about the stock. Barclays boosted their target price on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an equal weight rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. raised their target price on shares of TD SYNNEX from $113.00 to $126.00 and gave the stock a neutral rating in a research report on Monday, April 1st. Bank of America boosted their price target on TD SYNNEX from $120.00 to $140.00 and gave the company a buy rating in a report on Tuesday, April 2nd. Cfra raised their price objective on TD SYNNEX from $110.00 to $113.00 and gave the stock a hold rating in a report on Tuesday, March 26th. Finally, Royal Bank of Canada upped their target price on TD SYNNEX from $118.00 to $135.00 and gave the stock a sector perform rating in a report on Tuesday, June 11th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $126.10.

TD SYNNEX Price Performance

Shares of SNX stock opened at $115.40 on Wednesday. The stock has a 50 day moving average price of $124.72 and a 200 day moving average price of $112.69. TD SYNNEX has a 52-week low of $89.73 and a 52-week high of $133.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.26. The firm has a market capitalization of $10.28 billion, a P/E ratio of 16.16, a P/E/G ratio of 1.13 and a beta of 1.55.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Friday, July 12th. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.41%.

Insider Activity at TD SYNNEX

In related news, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the transaction, the chief executive officer now owns 219,363 shares in the company, valued at approximately $25,400,041.77. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,580,095.96. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $5,833,100 over the last quarter. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of TD SYNNEX

A number of institutional investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. grew its stake in TD SYNNEX by 121.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of TD SYNNEX in the first quarter worth about $32,000. Pineridge Advisors LLC acquired a new stake in shares of TD SYNNEX during the fourth quarter worth about $33,000. Daiwa Securities Group Inc. purchased a new stake in TD SYNNEX in the first quarter valued at approximately $68,000. Finally, Gladius Capital Management LP increased its holdings in TD SYNNEX by 50.8% in the 3rd quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock worth $74,000 after buying an additional 250 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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.