TD SYNNEX Co. (NYSE:SNX) Receives $121.82 Consensus Price Target from Analysts

Shares of TD SYNNEX Co. (NYSE:SNX) have received an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $121.82.

A number of research firms have issued reports on SNX. Barclays raised their target price on TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Bank of America lifted their price objective on TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Cfra upped their target price on TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research note on Tuesday, March 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $118.00 price objective (up previously from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. Finally, UBS Group raised TD SYNNEX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $115.00 to $145.00 in a report on Tuesday, April 16th.

Insiders Place Their Bets

In other news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the completion of the sale, the chief executive officer now owns 229,363 shares in the company, valued at approximately $24,213,851.91. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction on Monday, March 4th. The shares were sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the completion of the sale, the chief executive officer now owns 229,363 shares of the company’s stock, valued at approximately $24,213,851.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were 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 in the company, valued at $15,908,778.60. The disclosure for this sale can be found here. In the last three months, insiders sold 40,000 shares of company stock valued at $4,575,600. 1.90% of the stock is currently owned by insiders.

Institutional Trading of TD SYNNEX

Several hedge funds have recently added to or reduced their stakes in SNX. Benjamin F. Edwards & Company Inc. increased its holdings in shares of TD SYNNEX by 121.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after acquiring an additional 140 shares in the last quarter. Rise Advisors LLC bought a new position in TD SYNNEX during the 1st quarter worth about $32,000. Pineridge Advisors LLC acquired a new position in TD SYNNEX during the fourth quarter worth $33,000. Daiwa Securities Group Inc. bought a new stake in TD SYNNEX during the 1st quarter worth about $68,000. Finally, Gladius Capital Management LP raised its stake in TD SYNNEX by 50.8% in the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Stock Up 1.0 %

Shares of NYSE SNX opened at $117.61 on Friday. The firm has a market cap of $10.48 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 1.10 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22. TD SYNNEX has a 1 year low of $86.30 and a 1 year high of $119.87. The firm’s 50 day moving average price is $110.67 and its 200 day moving average price is $104.06.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.12. The business had revenue of $13.98 billion for the quarter, compared to analysts’ expectations of $14.37 billion. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. As a group, sell-side analysts anticipate that TD SYNNEX will post 11.38 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Thursday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 23.22%.

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.