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

Shares of TD SYNNEX Co. (NYSE:SNX) have received an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $137.22.

A number of analysts have commented on SNX shares. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. cut their price objective on shares of TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Cfra cut their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a report on Friday, March 28th. Barclays cut their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. Finally, Royal Bank of Canada cut their price target on shares of TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, April 11th.

TD SYNNEX Trading Up 4.6%

SNX stock opened at $123.31 on Tuesday. The firm has a market cap of $10.35 billion, a P/E ratio of 15.49, a PEG ratio of 1.06 and a beta of 1.33. TD SYNNEX has a 52-week low of $92.23 and a 52-week high of $145.10. The company’s 50-day simple moving average is $113.60 and its 200-day simple moving average is $123.14. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). The company had revenue of $14.53 billion during the quarter, compared to analysts’ expectations of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.99 earnings per share. As a group, equities analysts forecast that TD SYNNEX will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.43%. TD SYNNEX’s dividend payout ratio is presently 21.97%.

Insider Buying and Selling at TD SYNNEX

In related news, insider Miriam Anne Murphy sold 3,000 shares of TD SYNNEX stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the sale, the insider now directly owns 14,883 shares in the company, valued at $1,637,130. This trade represents a 16.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the sale, the director now owns 65,480 shares in the company, valued at $8,897,422.40. This represents a 23.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,510 shares of company stock valued at $3,241,001 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in TD SYNNEX by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock worth $901,323,000 after acquiring an additional 29,659 shares in the last quarter. FMR LLC increased its stake in TD SYNNEX by 3.2% in the fourth quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock valued at $898,738,000 after purchasing an additional 237,587 shares during the period. Brave Warrior Advisors LLC increased its stake in TD SYNNEX by 12.2% in the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock valued at $486,380,000 after purchasing an additional 451,557 shares during the period. JPMorgan Chase & Co. increased its stake in TD SYNNEX by 16.9% in the first quarter. JPMorgan Chase & Co. now owns 3,899,974 shares of the business services provider’s stock valued at $405,441,000 after purchasing an additional 564,473 shares during the period. Finally, Ninety One UK Ltd increased its stake in TD SYNNEX by 8.5% in the first quarter. Ninety One UK Ltd now owns 2,565,191 shares of the business services provider’s stock valued at $266,677,000 after purchasing an additional 200,628 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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.