TD SYNNEX Co. (NYSE:SNX) Given Average Rating of "Moderate Buy" by Analysts

TD SYNNEX Co. (NYSE:SNX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $134.75.

A number of equities analysts have recently issued reports on the company. Barrington Research reiterated an "outperform" rating and issued a $138.00 price objective on shares of TD SYNNEX in a report on Monday, September 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $140.00 target price on shares of TD SYNNEX in a research note on Friday, September 27th. Barclays increased their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an "equal weight" rating in a research report on Friday, September 27th. StockNews.com lowered shares of TD SYNNEX from a "buy" rating to a "hold" rating in a report on Monday, December 9th. Finally, Loop Capital reaffirmed a "buy" rating and set a $150.00 target price on shares of TD SYNNEX in a report on Monday, October 7th.

TD SYNNEX Price Performance

Shares of SNX stock traded down $1.26 during trading on Friday, hitting $123.24. The company had a trading volume of 552,244 shares, compared to its average volume of 764,994. The stock's 50-day moving average is $120.25 and its two-hundred day moving average is $119.25. The stock has a market capitalization of $10.49 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 1.14 and a beta of 1.47. 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 has a 52 week low of $98.70 and a 52 week high of $133.85.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping analysts' consensus estimates of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, analysts predict that TD SYNNEX will post 11.03 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX's dividend payout ratio (DPR) is 20.70%.

Insider Transactions at TD SYNNEX

In related news, insider Simon Leung sold 6,249 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the transaction, the insider now owns 23,339 shares in the company, valued at $2,874,664.63. This represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the completion of the sale, the director now owns 171,080 shares in the company, valued at approximately $20,652,777.60. This trade represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,645 shares of company stock worth $8,415,189. Company insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On TD SYNNEX

A number of institutional investors have recently bought and sold shares of SNX. FMR LLC grew its holdings in shares of TD SYNNEX by 18.4% during the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider's stock worth $891,665,000 after acquiring an additional 1,154,651 shares during the period. Pacer Advisors Inc. grew its stake 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 worth $313,469,000 after purchasing an additional 1,006,569 shares during the period. Ninety One UK Ltd raised its holdings in TD SYNNEX by 131.0% in the second quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider's stock worth $158,298,000 after purchasing an additional 777,924 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in TD SYNNEX by 560.0% during the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider's stock valued at $44,639,000 after buying an additional 315,424 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of TD SYNNEX by 21.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider's stock valued at $178,421,000 after buying an additional 269,759 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

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.