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

TD SYNNEX Co. (NYSE:SNX) has earned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $110.27.

A number of analysts have recently weighed in on SNX shares. The Goldman Sachs Group boosted their target price on shares of TD SYNNEX from $100.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, September 27th. JPMorgan Chase & Co. cut their target price on TD SYNNEX from $118.00 to $112.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 27th. StockNews.com started coverage on shares of TD SYNNEX in a research note on Thursday, October 5th. They set a “buy” rating for the company. Stifel Nicolaus raised their target price on shares of TD SYNNEX from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, September 19th. Finally, Barclays raised their price objective on shares of TD SYNNEX from $98.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 27th.

Insiders Place Their Bets

In other news, major shareholder Developments Ltd Peer sold 335,652 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $95.51, for a total transaction of $32,058,122.52. Following the transaction, the insider now owns 3,524,236 shares of the company’s stock, valued at approximately $336,599,780.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Developments Ltd Peer sold 335,652 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $95.51, for a total value of $32,058,122.52. Following the completion of the sale, the insider now owns 3,524,236 shares of the company’s stock, valued at approximately $336,599,780.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Urban sold 1,500 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $92.75, for a total transaction of $139,125.00. Following the transaction, the insider now owns 45,156 shares in the company, valued at $4,188,219. The disclosure for this sale can be found here. Insiders have sold 1,227,658 shares of company stock worth $117,346,823 in the last ninety days. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNX. Apollo Management Holdings L.P. purchased a new stake in shares of TD SYNNEX during the first quarter valued at about $3,622,519,000. FMR LLC lifted its position in TD SYNNEX by 4.7% during the third quarter. FMR LLC now owns 6,853,828 shares of the business services provider’s stock valued at $684,423,000 after acquiring an additional 307,844 shares during the last quarter. BlackRock Inc. boosted its stake in TD SYNNEX by 4.8% in the first quarter. BlackRock Inc. now owns 4,384,593 shares of the business services provider’s stock valued at $424,385,000 after acquiring an additional 199,876 shares in the last quarter. Vanguard Group Inc. grew its holdings in TD SYNNEX by 2.0% in the third quarter. Vanguard Group Inc. now owns 4,215,710 shares of the business services provider’s stock worth $342,274,000 after purchasing an additional 84,548 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of TD SYNNEX by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,813,767 shares of the business services provider’s stock worth $170,496,000 after purchasing an additional 34,186 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Trading Down 1.5 %

TD SYNNEX stock opened at $97.61 on Friday. The stock has a market cap of $9.02 billion, a P/E ratio of 14.02, a PEG ratio of 1.13 and a beta of 1.61. TD SYNNEX has a 1 year low of $86.30 and a 1 year high of $111.57. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.23 and a quick ratio of 0.75. The firm’s 50 day moving average price is $96.54 and its 200-day moving average price is $95.65.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, September 26th. The business services provider reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.31. The firm had revenue of $13.96 billion for the quarter, compared to analysts’ expectations of $14.11 billion. TD SYNNEX had a return on equity of 12.95% and a net margin of 1.45%. The business’s revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.69 earnings per share. On average, equities analysts predict that TD SYNNEX will post 10.45 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 13th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $1.40 annualized dividend and a yield of 1.43%. TD SYNNEX’s dividend payout ratio (DPR) is currently 20.11%.

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.