TD SYNNEX (NYSE:SNX) Stock Price Expected to Rise, Barclays Analyst Says

TD SYNNEX (NYSE:SNX - Free Report) had its price target lifted by Barclays from $132.00 to $148.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the business services provider's stock.

Several other equities analysts have also recently weighed in on SNX. Royal Bank of Canada reaffirmed an "outperform" rating and set a $140.00 target price on shares of TD SYNNEX in a research note on Tuesday, January 7th. StockNews.com lowered shares of TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, December 18th. Barrington Research restated an "outperform" rating and issued a $138.00 target price on shares of TD SYNNEX in a report on Monday, September 23rd. Cfra upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating and lifted their price objective for the company from $122.00 to $147.00 in a report on Friday. Finally, Loop Capital reiterated a "buy" rating and set a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, TD SYNNEX currently has an average rating of "Moderate Buy" and a consensus target price of $144.38.

TD SYNNEX Stock Down 0.9 %

Shares of NYSE SNX traded down $1.23 during midday trading on Monday, hitting $132.78. The stock had a trading volume of 1,140,412 shares, compared to its average volume of 796,645. The company has a market cap of $11.30 billion, a P/E ratio of 17.18, a PEG ratio of 1.14 and a beta of 1.46. The business's 50 day moving average is $120.14 and its 200-day moving average is $117.90. TD SYNNEX has a 52 week low of $98.70 and a 52 week high of $134.48. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be given a $0.44 dividend. This is an increase from TD SYNNEX's previous quarterly dividend of $0.40. The ex-dividend date is Friday, January 24th. This represents a $1.76 annualized dividend and a dividend yield of 1.33%. TD SYNNEX's dividend payout ratio is presently 22.11%.

Insider Buying and Selling

In other news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, insider Simon Leung sold 6,249 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the transaction, the insider now directly owns 23,339 shares of the company's stock, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,876 shares of company stock worth $8,196,529. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of TD SYNNEX

A number of hedge funds have recently modified their holdings of SNX. FMR LLC lifted its stake in TD SYNNEX by 18.4% during the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider's stock worth $891,665,000 after purchasing an additional 1,154,651 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of TD SYNNEX by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock worth $361,707,000 after purchasing an additional 813,634 shares during the period. Pacer Advisors Inc. boosted its position in TD SYNNEX by 58.9% in the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider's stock valued at $313,469,000 after buying an additional 1,006,569 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of TD SYNNEX by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider's stock worth $258,482,000 after purchasing an additional 177,460 shares during the period. Finally, State Street Corp lifted its holdings in TD SYNNEX by 0.7% in the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider's stock valued at $262,943,000 after buying an additional 15,995 shares during the period. Hedge funds and other institutional investors 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.