Barrington Research Forecasts Strong Price Appreciation for TD SYNNEX (NYSE:SNX) Stock

TD SYNNEX (NYSE:SNX - Free Report) had its price objective lifted by Barrington Research from $138.00 to $156.00 in a report released on Thursday morning, MarketBeat Ratings reports. They currently have an outperform rating on the business services provider's stock.

SNX has been the subject of several other research reports. Barclays upped their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Cfra upgraded TD SYNNEX from a "hold" rating to a "buy" rating and upped their price objective for the stock from $122.00 to $147.00 in a report on Friday, January 10th. StockNews.com raised TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. JPMorgan Chase & Co. boosted their price target on TD SYNNEX from $135.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada raised their price objective on TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $149.75.

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TD SYNNEX Trading Up 2.0 %

SNX traded up $2.58 during midday trading on Thursday, hitting $130.31. The company's stock had a trading volume of 832,201 shares, compared to its average volume of 730,246. TD SYNNEX has a 52-week low of $104.93 and a 52-week high of $145.10. The firm has a 50-day moving average price of $137.31 and a two-hundred day moving average price of $125.59. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The firm has a market cap of $10.99 billion, a P/E ratio of 16.37, a PEG ratio of 1.06 and a beta of 1.51.

TD SYNNEX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were paid a dividend of $0.44 per share. This is an increase from TD SYNNEX's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 annualized dividend and a yield of 1.35%. TD SYNNEX's payout ratio is 22.11%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the transaction, the director now directly owns 4,856 shares of the company's stock, valued at $660,804.48. This represents a 14.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the firm's 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 of the company's stock, valued at $13,065,229.60. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock valued at $6,353,261 in the last ninety days. Insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On TD SYNNEX

Institutional investors have recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC boosted its holdings in TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock worth $27,000 after purchasing an additional 176 shares during the period. Bessemer Group Inc. boosted its holdings in shares of TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after buying an additional 152 shares during the period. UMB Bank n.a. grew its position in shares of 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 TD SYNNEX during the third quarter worth about $55,000. Finally, Blue Trust Inc. lifted its holdings in TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock worth $55,000 after acquiring an additional 129 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

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.