Analysts Set TD SYNNEX Co. (NYSE:SNX) Target Price at $121.82

Shares of TD SYNNEX Co. (NYSE:SNX) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $121.82.

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $118.00 price objective (up from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. UBS Group upgraded shares of TD SYNNEX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $115.00 to $145.00 in a research note on Tuesday, April 16th. Barrington Research raised their price objective on shares of TD SYNNEX from $122.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. lifted their target price on TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Finally, Barclays lifted their price objective on TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 27th.

Insider Activity

In related news, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.57, for a total value 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 $24,213,851.91. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Dennis Polk sold 20,000 shares of the firm’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 sale, the insider now owns 134,706 shares in the company, valued at $15,908,778.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the transaction, the chief executive officer now owns 229,363 shares in the company, valued at $24,213,851.91. The disclosure for this sale can be found here. Insiders have sold a total of 40,000 shares of company stock valued at $4,575,600 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted 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 worth $684,423,000 after purchasing an additional 307,844 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of TD SYNNEX by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 5,379,928 shares of the business services provider’s stock worth $578,934,000 after buying an additional 371,322 shares in the last quarter. Nordea Investment Management AB grew its stake in TD SYNNEX by 38.5% in the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock valued at $172,081,000 after acquiring an additional 421,908 shares during the last quarter. Pacer Advisors Inc. increased its holdings in TD SYNNEX by 33,158.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock valued at $143,767,000 after acquiring an additional 1,331,988 shares in the last quarter. Finally, Lyrical Asset Management LP raised its position in TD SYNNEX by 0.3% during the fourth quarter. Lyrical Asset Management LP now owns 1,277,884 shares of the business services provider’s stock worth $137,513,000 after acquiring an additional 3,571 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Stock Up 0.4 %

Shares of SNX opened at $120.17 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. The firm has a market cap of $10.71 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 1.10 and a beta of 1.59. The company’s 50-day moving average price is $111.38 and its 200 day moving average price is $104.55. TD SYNNEX has a 12-month low of $86.30 and a 12-month high of $121.17.

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

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.33%. TD SYNNEX’s payout ratio is currently 23.22%.

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.