Barclays Increases TD SYNNEX (NYSE:SNX) Price Target to $148.00

TD SYNNEX (NYSE:SNX) had its price target raised by Barclays from $132.00 to $148.00 in a research note released on Monday,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

A number of other equities research analysts have also recently commented on SNX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Tuesday, January 7th. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and upped their price target for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Barrington Research reissued an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a report on Monday, September 23rd. Finally, Loop Capital reaffirmed a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.38.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $136.25 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. The firm has a market cap of $11.59 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 1.24 and a beta of 1.46. TD SYNNEX has a 52 week low of $98.70 and a 52 week high of $138.04. The firm’s 50-day simple moving average is $120.83 and its two-hundred day simple moving average is $118.16.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.76 annualized dividend and a yield of 1.29%. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.11%.

Insider Activity

In other TD SYNNEX news, insider David R. Vetter sold 20,000 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $123.14, for a total value of $2,462,800.00. Following the completion of the transaction, the insider now directly owns 66,381 shares of the company’s stock, valued at $8,174,156.34. This trade represents a 23.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the transaction, the chief financial officer now directly owns 48,362 shares in the company, valued at approximately $5,858,089.06. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,876 shares of company stock worth $5,782,129 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Institutional Trading of TD SYNNEX

A number of large investors have recently modified their holdings of SNX. Hancock Whitney Corp raised its stake in TD SYNNEX by 57.9% in the second quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock valued at $1,954,000 after purchasing an additional 6,207 shares in the last quarter. Pathstone Holdings LLC increased its holdings in shares of TD SYNNEX by 45.2% in the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after buying an additional 5,698 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of TD SYNNEX during the 2nd quarter valued at $1,634,000. The Manufacturers Life Insurance Company lifted its holdings in shares of TD SYNNEX by 20.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 67,543 shares of the business services provider’s stock worth $7,794,000 after acquiring an additional 11,589 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after acquiring an additional 813,634 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

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.