TD SYNNEX Co. (NYSE:SNX) Given Consensus Recommendation of "Moderate Buy" by Brokerages

TD SYNNEX Co. (NYSE:SNX - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $137.22.

Several research firms have issued reports on SNX. StockNews.com lowered TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Royal Bank of Canada dropped their target price on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Barclays reduced their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. JPMorgan Chase & Co. dropped their price objective on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, The Goldman Sachs Group cut their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, March 28th.

TD SYNNEX Stock Up 1.4 %

SNX opened at $105.67 on Friday. TD SYNNEX has a fifty-two week low of $92.23 and a fifty-two week high of $145.10. The company has a market capitalization of $8.87 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.06 and a beta of 1.36. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The firm's fifty day moving average price is $123.13 and its two-hundred day moving average price is $123.96.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). The business had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The business's revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.99 EPS. On average, analysts anticipate that TD SYNNEX will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.67%. TD SYNNEX's dividend payout ratio (DPR) is currently 21.97%.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the transaction, the director now directly owns 65,480 shares of the company's stock, valued at approximately $8,897,422.40. This trade represents a 23.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the sale, the chief financial officer now owns 49,843 shares of the company's stock, valued at $6,383,891.44. The trade was a 2.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,333 shares of company stock worth $3,886,690 over the last 90 days. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in TD SYNNEX during the third quarter worth about $219,000. M&T Bank Corp raised its position in shares of TD SYNNEX by 13.5% in the 3rd quarter. M&T Bank Corp now owns 2,188 shares of the business services provider's stock valued at $263,000 after acquiring an additional 261 shares during the period. Wilmington Savings Fund Society FSB bought a new position in TD SYNNEX during the 3rd quarter worth approximately $232,000. Tidal Investments LLC grew its holdings in TD SYNNEX by 9.3% during the third quarter. Tidal Investments LLC now owns 17,121 shares of the business services provider's stock valued at $2,056,000 after purchasing an additional 1,450 shares during the period. Finally, Brass Tax Wealth Management Inc. bought a new stake in TD SYNNEX in the third quarter valued at approximately $203,000. 84.00% of the stock is owned by institutional investors and hedge funds.

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.

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