TD SYNNEX Co. (NYSE:SNX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of TD SYNNEX Co. (NYSE:SNX) have earned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $140.00.

Several analysts have recently issued reports on SNX shares. UBS Group dropped their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Friday. StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group cut their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a report on Friday. Cfra cut their price target on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. decreased their target price on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $104.45 on Monday. The stock has a market cap of $8.81 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. TD SYNNEX has a 52-week low of $98.00 and a 52-week high of $145.10. The business has a 50-day simple moving average of $135.67 and a 200-day simple moving average of $125.53. 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 posted its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm had revenue of $14.53 billion for the quarter, compared to analysts’ expectations of $14.79 billion. During the same period in the previous year, the company earned $2.99 earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts expect that TD SYNNEX will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a $0.44 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.68%. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

Insider Buying and Selling

In related news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the sale, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This represents a 15.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the sale, the chief financial officer now directly owns 49,843 shares of the company’s stock, valued at $6,383,891.44. The trade was a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,172 shares of company stock worth $6,353,261. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Institutional investors have recently added to or reduced their stakes in the stock. Bartlett & CO. Wealth Management LLC grew its holdings in TD SYNNEX by 345.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares during the period. Bessemer Group Inc. lifted its holdings in shares of TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 152 shares in the last quarter. UMB Bank n.a. grew its holdings in TD SYNNEX by 48.4% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after buying an additional 140 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of TD SYNNEX during the third quarter valued at $55,000. Finally, Blue Trust Inc. grew its holdings in shares of TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after buying an additional 129 shares in 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.