Brokerages Set TD SYNNEX Co. (NYSE:SNX) Price Target at $118.18

TD SYNNEX Co. (NYSE:SNX) has been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Five 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 $118.18.

A number of analysts recently weighed in on SNX shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $118.00 price target (up from $110.00) on shares of TD SYNNEX in a research report on Wednesday, March 27th. Barclays raised their target price on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 27th. Barrington Research raised their target price on shares of TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Finally, Cfra raised their target price on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a report on Tuesday, March 26th.

TD SYNNEX Stock Performance

Shares of NYSE:SNX opened at $114.92 on Monday. The company has a market capitalization of $10.07 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 1.12 and a beta of 1.64. The firm’s 50 day simple moving average is $105.74 and its 200 day simple moving average is $101.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75. TD SYNNEX has a fifty-two week low of $86.30 and a fifty-two week high of $119.87.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, January 9th. The business services provider reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.57. The business had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $14.54 billion. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. TD SYNNEX’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same period last year, the company posted $3.30 EPS. As a group, sell-side analysts forecast that TD SYNNEX will post 11.17 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, April 11th. TD SYNNEX’s dividend payout ratio is 23.22%.

Insider Transactions at TD SYNNEX

In other news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction on Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the sale, the insider now owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Apollo Management Holdings Gp, sold 2,250,000 shares of the business’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $101.50, for a total value of $228,375,000.00. Following the completion of the transaction, the insider now owns 26,153,049 shares of the company’s stock, valued at $2,654,534,473.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,304,905 shares of company stock valued at $234,400,012. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SummerHaven Investment Management LLC grew its position in TD SYNNEX by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 7,499 shares of the business services provider’s stock valued at $807,000 after acquiring an additional 102 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of TD SYNNEX by 4.3% during the first quarter. Captrust Financial Advisors now owns 3,202 shares of the business services provider’s stock worth $330,000 after purchasing an additional 133 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of TD SYNNEX by 0.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 18,687 shares of the business services provider’s stock worth $1,702,000 after purchasing an additional 140 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of TD SYNNEX by 0.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 35,805 shares of the business services provider’s stock worth $3,391,000 after purchasing an additional 141 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of TD SYNNEX by 0.6% during the fourth quarter. Teacher Retirement System of Texas now owns 23,242 shares of the business services provider’s stock worth $2,501,000 after purchasing an additional 142 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

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.