TD SYNNEX (NYSE:SNX) Lowered to "Hold" Rating by StockNews.com

StockNews.com cut shares of TD SYNNEX (NYSE:SNX - Free Report) from a buy rating to a hold rating in a research note released on Tuesday.

Several other analysts have also weighed in on the company. Barclays increased their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. Cfra raised TD SYNNEX from a "hold" rating to a "buy" rating and upped their price objective for the company from $122.00 to $147.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. upped their price objective 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 upped their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.50.

TD SYNNEX Trading Down 0.3 %

NYSE:SNX traded down $0.48 during midday trading on Tuesday, hitting $137.49. 624,593 shares of the company traded hands, compared to its average volume of 631,390. The firm's fifty day moving average is $134.56 and its 200-day moving average is $124.28. TD SYNNEX has a 12-month low of $102.23 and a 12-month high of $145.10. The firm has a market capitalization of $11.60 billion, a P/E ratio of 17.27, a P/E/G ratio of 1.06 and a beta of 1.49. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46.

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TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were given a dividend of $0.44 per share. The ex-dividend date was Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a yield of 1.28%. This is an increase from TD SYNNEX's previous quarterly dividend of $0.40. TD SYNNEX's dividend payout ratio (DPR) is presently 22.11%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the sale, the director now directly owns 4,856 shares in the company, valued at approximately $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX 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 sale, the director now directly owns 111,080 shares of the company's stock, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,289 shares of company stock valued at $3,639,500 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

Institutional investors and hedge funds have recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 176 shares during the period. Bessemer Group Inc. lifted its holdings in 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 acquiring an additional 152 shares during the period. UMB Bank n.a. lifted its holdings in TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock valued at $50,000 after acquiring an additional 140 shares during the period. Point72 DIFC Ltd acquired a new position in TD SYNNEX in the third quarter valued at approximately $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 valued at $55,000 after acquiring an additional 129 shares during the period. 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.